- Coinbase provides a $ 20 million bonus on criminals behind extorting user data.
- Less than 1 % of users are affected, with no money or passwords.
- Law enforcement and plots are already implemented.
Coinbase, the largest cryptocurrency in the United States, has put a $ 20 million bonus on Internet criminals who tried to blackmail the company. The attackers demanded a ransom with the same amount in Bitcoin, threatening to leak the customer’s sensitive data if the stock exchange refuses to comply.
Instead of surrendering to pressure, Coinbase chose to fight publicly, at a dangerous price for justice.
Khasat targets support channels
In a comprehensive blog publication, Coinbase announced that the attackers had access to information related to less than 1 % of its monthly visitors. Information is supposed to be obtained by bribery of foreign customer support contractors. The information obtained includes names, addresses and identifiers issued by the government, but not passwords, private keys or customer boxes.
The company explained: “No money was affected, and Coinbase has not been affected.
The penetration shows the increasing intelligence of social engineering attacks, and targeting human weaknesses on technical gaps. The goal of the attackers was simple: Ransom worth $ 20 million from Bitcoin to keep the information leaked from publishing or selling it online.
The enforcement of the law concerned, the users are paid
Instead of surrendering, Coinbase not only refused to pay a ransom, but also launched a $ 20 million reward to find and trial the attackers. The stock exchange cooperated with law enforcement authorities currently investigating the attack.
“Coinbase will also recover affected users,” the blog post mentioned, confirming customer safety and transparency. (Check the reluctant part again, cuz according to the article, there was no penetration, then where came the amount of the amount came, the double verification and the advancement of it)
This procedure represents an exciting step in how Encryption companies Deal with extortion threats, indicating that legal channels and rewards can become a standard defensive strategy in the industry.
Not the first Rodio Coinbase
This is not the first time that Coinbase has to face digital extortion. In 2022, the company also issued a reward after a separate breach attempt, indicating a steady refusal to negotiate with Internet criminals. The monthly months have witnessed an increase in the fraud that target Coinbase customers, as attackers represent customer support factors to drain the boxes. Independent Blockchain Zachbt He documented many cases, highlighting the need for the best user education and safety measures through encryption platforms.
Involve
