Coinbase Hit by Major Data Breach, Expected Losses Reach $400 Million

Cryptocurrency exchange Coinbase has revealed a major data breach, with the company anticipating losses between $180 million and $400 million. The attack exposed customer information, leading to a nearly 3% decline in its stock price. A threat actor’s email on May 11th allegedly signaled access to internal documents and customer data. Coinbase confirmed this breach, attributing it to a targeted social engineering scheme that compromised customer accounts.