A recent cybersecurity breach at Coinbase has raised serious concerns about the industry’s vulnerability and targeted attacks on prominent figures. The incident involved unauthorized access to sensitive user data through compromised customer service representatives in India. The attackers demanded a $20 million ransom, which was refused by Coinbase. This incident highlights several key points: 1) it may cost Coinbase up to $400 million due to the breach; 2) a significant portion of the information stolen is personal details, including names, addresses, government IDs, and banking information; 3) this breach aligns with a trend of targeting leading figures in the crypto industry; and 4), the case may trigger regulatory evaluations on a global scale. Roelof Botha, Managing Partner at Sequoia Capital, has become a target following the breach as the hackers bribed Indian customer service employees to gain unauthorized access to sensitive user data.