In a major security breach disclosed by CEO Brian Armstrong on May 15, 2025, Coinbase suffered unauthorized access to customer data due to compromised support agents. This incident involved bribery of overseas staff who were subsequently able to compromise their credentials and extract information from users. Approximately 1% of Coinbase’s monthly users are affected. While Coinbase has terminated the responsible employees and offered a $20 million bounty for any further information, this breach raises concerns regarding cybersecurity measures and potential financial repercussions reaching up to $400 million as Coinbase prepares for its inclusion in the S&P 500 index. The incident serves as a reminder of the human element vulnerability that can be exploited by attackers targeting organizations like Coinbase.