Coinbase Faces Criminal Investigation over Insider Data Breach

The U.S. Department of Justice (DOJ) is investigating a recent data breach at Coinbase, which involved attackers bribing overseas contractors to gain access to sensitive customer information. The investigation follows the company’s announcement of the breach on May 15th, during which authorities discovered that attackers infiltrated Coinbase’s Indian support system using third-party contractors. 300 million in damages was reported as a result of these scams. While key systems remained unaffected, the company confirmed that just 1% of its monthly active users had their information compromised – including names, contact details, identities, and partially hidden financial data. Coinbase is cooperating fully with the DOJ and other global authorities investigating this incident.