Coinbase faces a major crisis after confirming a data breach that could cost the exchange up to $400 million. Hackers exploited overseas support agents in India, who compromised customer information including names, emails, and addresses, potentially impacting millions of users. Coinbase fired the contractors involved but acknowledged internal access as a vulnerability. Meanwhile, the U.S. Securities and Exchange Commission (SEC) is investigating Coinbase’s user figures during its 2021 IPO, raising further questions about transparency and accuracy. The investigation comes at a challenging time for the exchange as it grapples with stock market turmoil following the breach and SEC probe, causing the COIN stock price to plummet over 6%. Analysts warn that the damage to Coinbase’s reputation could have long-term consequences.