Coinbase Data Leak Impacts 70,000 Users: Is KYC Safeguarding or Putting Them at Risk?

A data breach at Coinbase has exposed personal information of approximately 70,000 customers. This incident, attributed to a bribe-based attack on a customer service agent working for TaskUs in India, has potentially exposed users to significant financial and security risks. While the company revealed details in a SEC filing and confirms compromised employee data, the event raises concerns about the effectiveness of KYC procedures in protecting user privacy.