Coinbase Data Breach Leads to $20M Reward Bounty, Stock Drops Amidst Security Concerns

Coinbase recently announced a data breach that affected approximately 97,000 of its 9.7 million active users. The incident, revealed on May 15, 2025, involved compromised customer support agents who enabled cybercriminals to access user information. Coinbase CEO Brian Armstrong has pledged a $20 million reward fund for information leading to the perpetrators’ arrest and conviction, instead of paying ransom demands. This move reflects his commitment to transparency and security protocols.