Crypto exchange Coinbase is facing scrutiny after a data breach involving rogue customer support staff resulted in an extortion attempt. While the attack affected fewer than 1% of monthly users, it exposed sensitive information like names, phone numbers, email addresses and even government ID photos for some individuals. Contrary to expectations, Coinbase did not pay the ransom demanded by cybercriminals. Instead, they bravely took a stand by refusing the threat and offering a $20 million bounty for any successful identification of those behind this incident. Details on how this breach occurred can be found in their official blog post, where they outline the steps taken to address the situation. Coinbase confirmed that no financial assets or login credentials were compromised, and promised reimbursing customers who fell victim to phishing attempts or social engineering. This incident underscores the importance of security measures and emphasizes the need for transparency in addressing cybersecurity concerns.