Following a significant phishing attack that compromised customer support operations, Coinbase has committed $400 million to reimburse users affected by the incident. The company revealed that attackers bribed its overseas staff agents for access to sensitive user information, primarily impacting assets such as Bitcoin (BTC) and Ethereum (ETH). This breach resulted in a 7.2% stock decline following the announcement. Coinbase CEO Brian Armstrong announced the substantial financial commitment to address user losses. 0n addressing this incident, Coinbase has implemented measures like enhancing security protocols, shifting some customer support operations, and bolstering staff training efforts. The company is currently under regulatory scrutiny from the SEC as they investigate compliance with relevant regulations in light of the incident.