Justice Department Probes Coinbase: Security Concerns Spark Market Uncertainty

Coinbase, a leading cryptocurrency exchange in the United States, is facing scrutiny from the U.S. Department of Justice (DOJ) over alleged security breaches involving external contractors. The investigation stems from claims that these contractors may have collaborated with cybercriminals, resulting in unauthorized access to customer data and potentially exposing clients to threats such as kidnapping or physical harm. The financial implications are significant, estimated at $400 million in losses, adding further pressure on the cryptocurrency market.