Coinbase Acknowledges Data Breach by TaskUs: Impacts and Concerns

Coinbase recently confirmed a major data breach involving their outsourcing contractor, TaskUs, which occurred in January 2025. The breach involved employees in India stealing customer data for hackers. This disclosure came four months after the initial discovery of the security lapse. Potential damages associated with this breach are estimated at up to $400 million, prompting Coinbase to lay off approximately 200 employees connected to the incident.