A recent data breach at crypto exchange Coinbase has sparked concerns about user safety. Hackers gained access to sensitive information like home addresses, impacting less than 1% of users according to the platform. However, experts warn that this incident could have severe consequences for those affected, potentially leading to physical harm due to its ability to enable social engineering scams and physical extortion attempts. While no passwords or financial funds were compromised, insider access via bribes allowed hackers to infiltrate Coinbase’s systems, leaving users vulnerable to exploitation. This breach follows a trend of escalating targeting by criminals seeking digital assets. 6 violent robberies against cryptocurrency investors were reported in the past month, with some demanding ransom for crypto using kidnapping and torture tactics. As Bitcoin surges above $100,000, the potential for financial risk increases. To mitigate these risks, industry experts recommend a layered cybersecurity approach encompassing privileged access management, zero-trust architecture, multi-factor authentication, and continuous monitoring. However, the threat of social engineering schemes such as phishing scams remains significant, with over $1 billion lost across 296 incidents in 2024 according to CertiK.