Coinbase has taken a decisive stance against a recent data breach, declining to pay a $20 million ransom demanded by attackers who stole user data. Instead, the crypto exchange launched a reward fund of $20 million for information leading to the culprits’ identification and prosecution. The attack affected less than 1% of Coinbase’s monthly transacting users (MTUs), though no funds or private keys were compromised. The breach involved insider-led data theft from overseas customer support contractors, who were bribed by hackers. Despite this significant security lapse, user funds remain secure as the exchange has implemented a range of measures to bolster its defenses, including tightening internal security protocols and introducing stricter identity verification procedures.