Loading cryptocurrency prices...

Coinbase Hacker Taunts ZachXBT After $42.5M Crypto Heist

Coinbase Hacker Mocks ZachXBT On-Chain After $42.5M Crypto Theft and Data Breach

  • An attacker connected to a recent Coinbase data breach publicly mocked crypto investigator ZachXBT via an Ethereum transaction.
  • The Hacker has moved $42.5 million from Bitcoin to Ethereum using a swapping protocol called THORChain.
  • An on-chain message contained insults and a link to a meme YouTube video featuring NBA player James Worthy.
  • Coinbase confirmed a data breach affecting at least 69,400 accounts and rejected a $20 million ransom demand, instead offering a bounty for information.
  • The company faces up to $400 million in potential costs due to incident response and customer compensation.

An unknown attacker involved in a recent breach targeting Coinbase account holders has used the Ethereum blockchain to publicly mock on-chain researcher ZachXBT. The incident happened after ZachXBT exposed details about the group responsible for several thefts affecting platform users.

- Advertisement -

The threat actor conducted a blockchain transaction, using its input data message feature, to send the phrase “L bozo” and a link to a meme YouTube video showing NBA legend James Worthy smoking a cigar. According to ZachXBT, the hacker swapped approximately $42.5 million from Bitcoin to Ethereum through THORChain, a service that allows users to exchange cryptocurrencies across blockchains.

On-chain records from Etherscan show the hacker also moved an additional 8,698 ETH (about $22.6 million) not long after the taunting messages. Coinbase recently disclosed that more than 69,400 users had their data exposed in a violation discovered in May and attributed to an incident dating back to December of the previous year, as detailed in a filing with the Maine Attorney General’s office.

Following the disclosure, the attackers demanded a ransom of $20 million in Bitcoin to withhold releasing the stolen data. Coinbase refused and instead offered the same sum as a bounty for information leading to the responsible party, as seen in their official statement.

The financial impact for Coinbase could range from $180 million to $400 million, covering remediation and compensation efforts.

- Advertisement -

ZachXBT is known for investigating cryptocurrency scams and hacks. In 2023, he received major support from the crypto community after facing a defamation lawsuit. Earlier this year, crypto investment firm Paradigm hired him as an incident response advisor.

✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.

Previous Articles:

- Advertisement -

Latest News

Ripple XRP Near ETF Launch: Price Dips Before Rally to $8 and $20

Ripple XRP is near the launch of its ETF era with Nasdaq approving the...

Taiwan Weighs Creating National Bitcoin Reserve Amid Report

Taiwan plans to issue a report on Bitcoin holdings confiscated by government agencies before...

Data Center Investments Surpass Oil in 2025, AI Leads Shift

Investments in data centers have surpassed those in the oil sector for the first...

XRP Soars as Nasdaq Certifies First U.S. Spot ETF; Bitcoin Tops $103K

Bitcoin, Ethereum, and other leading cryptocurrencies recorded gains after the U.S. government shutdown ended. XRP...

Canary Capital Files ETF for Cat-Themed MOG Memecoin Exposure

Canary Capital filed for an ETF based on MOG Coin, a cat-themed memecoin linked...
- Advertisement -

Must Read

Top 10 Best Crypto Faucets To Earn Free Crypto

Are you looking to earn free cryptocurrency? Look no further! In this article, we will introduce you to the top 10 best crypto faucets...