Coinbase Refuses Ransom, Offers Reward After Major Data Breach

Coinbase is facing intense scrutiny following a significant data breach impacting approximately 70,000 users. The breach, initially revealed in May 2025 after attackers accessed sensitive user information, occurred in December 2024. Coinbase refused to pay a ransom of $20 million demanded by the hackers and instead offered an equivalent sum as a reward for information leading to their identification. The lack of communication during this period saw user data exposed publicly for months before the company disclosed it to the Maine Attorney General’s office in mid-May. 2025.