Coinbase, a leading cryptocurrency exchange, has been the victim of a large-scale
cyberattack, which the firm estimates could cost up to
$400 million. The organization experienced a significant data breach, with customer data being stolen and extorted for a
$20 million ransom, a demand that was turned into a bounty for information on the attackers. The consequences have impacted Coinbase's financial performance and stock value, which has led to an investigation by the
United States Department of Justice and the
Securities and Exchange Commission (SEC).
Aside from Coinbase, other cryptocurrency companies such as CoinDCX, Phemex, and DMM Bitcoin have also fallen victim to significant cyberattacks. Cybersecurity in the crypto realm has consequently become a significant concern, with digital currency scams and AI attacks becoming top threats. To combat these issues, the SEC has formed a new Cyber and Emerging Technologies Unit.
Enlightify Inc. invested $20 million in the
CYBER Token, thereby strengthening blockchain adoption. The
\"Cyber Manhattan\", as described by MicroStrategy's Michael Saylor, symbolizes Bitcoin as a valuable investment despite being at an all-time high. The investment indicates faith in the resilience of the Crypto Exchange, in spite of the cyber threats.
CYBER Coin News Analytics from Fri, 20 Sep 2024 07:00:00 GMT to Mon, 11 Aug 2025 06:33:45 GMT -
Rating -3
- Innovation -1
- Information 8
- Rumor -6
