Coinbase Faces Scrutiny After Data Breach Linked to Third-Party Contractor

Cryptocurrency exchange Coinbase is under fire again following a data breach tied to outsourcing customer support. The incident involved TaskUs, an Indian third-party contractor hired by Coinbase to handle customer inquiries. Concerns have been raised as Adam Cochran of Cinneamhain Ventures criticizes the company for relying on contractors instead of employing its own staff. This follows reports that 200 TaskUS employees were dismissed after allegedly taking photos of their work computers with the intent to sell sensitive customer data, part of a broader coordinated campaign. Coinbase was aware of the breach in January but only disclosed it in May, leading to significant financial implications estimated at $400 million. The incident also raises concerns about potential regulatory scrutiny from authorities.