- Coinbase disclosed a breach affecting nearly 70,000 user accounts.
- The incident occurred on December 26, 2024, due to support staff being bribed.
- Attackers demanded a $20 million ransom after stealing personal data.
- Impacted users are offered free credit monitoring, identity protection, and up to $1 million in insurance reimbursement.
- Coinbase estimates the reimbursement cost could total between $180 million and $400 million.
On December 26, 2024, Coinbase experienced a significant data breach that exposed the personal information of almost 70,000 users. Bad actors bribed support employees to access and steal this information, as revealed in a filing with the Maine Attorney General’s Office by Coinbase’s legal team.
The company reported the breach on May 14, 2025, after receiving a $20 million ransom demand from those responsible. According to the filing, 217 Maine residents were impacted by the leak. Coinbase stated it uncovered the breach on May 11, 2025.
Reporting from Bloomberg indicated that suspicious activities were first detected as early as January 2025. A K-8 filing by Coinbase also mentioned that the company noticed unusual behavior over the preceding months.
The official filing from Maine explains that Coinbase is now providing affected users with a year of complimentary credit monitoring and identity protection. This includes dark web tracking, an insurance reimbursement policy of up to $1 million, and identity restoration services. Details about the data breach can be found in the official Maine Attorney General disclosure.
The company earlier estimated the total potential reimbursement cost for users could range between $180 million and $400 million. Read more: Coinbase leak prompts KYC criticism from crypto execs.
No additional details about the attackers have been released. Coinbase advises users to take advantage of the offered security services to safeguard their accounts.
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