Coinbase Under Fire: Massive Data Breach Leaves 70,000 Users Exposed

Coinbase has been thrust into the spotlight after a substantial data breach impacted approximately 70,000 users. The attack, which occurred in December 2024 but wasn’t publicly disclosed until May 2025, granted unauthorized access to sensitive personal and contact information. The hackers demanded a $20 million ransom, but Coinbase refused, instead offering the same sum as a reward for information leading to their arrest. This unusual approach was intended to maintain integrity while staying within legal boundaries. However, it triggered significant backlash and led to at least six lawsuits against the company claiming inadequate security measures.