Coinbase Data Breach Under Investigation: Contractor Bribery and $400 Million User Losses

The US Department of Justice (DOJ) has launched an investigation into a major data breach at cryptocurrency exchange Coinbase, triggered by alleged bribery schemes involving contractors in India. The incident, disclosed on May 15, 2025, resulted in an estimated $400 million loss for users affected by the breaches. Coinbase’s CEO Brian Armstrong has remained silent, but the company is cooperating with authorities as they pursue criminal charges against those involved. SEC scrutiny of Coinbase over their user verification numbers adds to the financial and regulatory pressure on the platform.