Coinbase reveals 69,461 users affected in December 2024 data heist: filing
Powered by @unfolded- Coinbase disclosed that a data breach in December 2024 affected 69,461 users, revealing KYC details but not passwords or funds.
- The breach involved hackers demanding a $20 million ransom and bribing customer support agents for information.
- Critics, including investor Michael Arrington, condemned Coinbase's delayed response and the potential human cost of the breach, estimating remediation costs between $180 million and $400 million.
- Arrington also criticized KYC laws as ineffective, urging for better protection of user data by both regulators and corporations.