Coinbase faces the heat of the Ministry of Justice on the penetration, where the S& P Stillight enter
Coinbase witnessed the decline in its big day at the S&P 500. It closed at about 263 dollars, down from the highest level. Then came the news of the US Department of Justice’s investigation on how the infiltrators stole the customer’s data. It is a sudden turn for the stock market that has just replaced financial services on the index.
The ongoing investigation of the Ministry of Justice
According to Bloomberg reportWashington’s criminal department in Washington opened a breach. Investigators want to find out how rogue support staff were paid abroad. They will look at the path from the initial contact to the theft of data.
According to reports, the electronic attack on customer service agents relied on bribery. Then these criminals gave the information they needed. The company says that no financial accounts have been touched. But personal details ended in the hands of the error.
Investigations into the Ministry of Justice, Coinbase, internet attacks that involve $ 20 million extortion attempt
The US Department of Justice (Doj), including the criminal section of Washington, is investigating the electronic attack on Coinbase The exchange that infiltrators tried to blackmail $ 20 million to prevent …
– Coinness Global (@coinnessgl) May 19, 2025
The reward was offered to find the exploiters
Coinbase put a $ 20 million bonus. To match the required amount infiltrators in extortion. The affected users will get a fully payment, and the stock market promise. It is one way to prevent people from withdrawing their coins.
Lawyers have submitted up to six lawsuits for the hacked data. This includes senior executives such as Roelof Botha from Sequoia Capital. Even cryptocurrencies are employing personal guards after their information leaks. Binance and Kaken’s competitive platforms have seen similar interior attacks.
For the first time in stocks, the organizational clouds were marred
Not everyone was bad on the list of the list. Coinbase became the first Cohr Corporation in the S&P 500. However, the celebration was silent. The inventory fell for the first time on May 15 when it hit the whispers of the breach. She recovered again to $ 263 by last Friday.
Image: DeFi Planet
Paul Ghorn, the chief legal official of Coinbase, says they are working with SEC, although he doubts that the investigation should continue. The agency is still looking to disclose the number of previous users that may have misled investors. Now the Department of Justice is interfering over the penetration itself.
What comes after that to customers and investors
People who watch Coinbase will want updates on both fronts. Any criminal charges can bring fines or prison to those involved. Civil claims can cost more money. The invested faith may fluctuate if the story continues.
Coinbase quickly moved to connect its holes. It says new security steps are present. But with the digging of law firms and organizers in a deeper way, the next few weeks will be very important.
Distinctive image from Vecteezy, the tradingView graph
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