A recent data breach at Coinbase has shaken the crypto market, raising concerns about customer security and impacting its financial standing. The incident involved an insider attack, where employees were bribed to access sensitive user information. This breach compromised personal details like names, addresses, and financial data, leading to a stock decline of over 7% in response to the news. Coinbase CEO Brian Armstrong has stated that they are taking steps to protect their customers’ information but declined to pay the $20 million ransom demanded by the attackers. The SEC was also notified about the breach. While Coinbase claims to be working on strengthening security measures, the incident raises questions about the industry’s overall vulnerability. Coincu Research highlights the importance of insider threat detection and robust security protocols in preventing similar breaches.