Coinbase has rejected a $20 million ransom offer following the discovery of a data breach in which customer information was stolen. The breach, involving bribed overseas agents, impacted 69,461 individuals and exposed sensitive details such as bank accounts and government IDs. Coinbase’s CEO Brian Armstrong immediately responded to the incident, initiating security enhancements including a new U.S.-based support hub and heightened fraud detection capabilities. While no passwords or seed phrases were compromised, the breach is estimated to cost up to $400 million in remediation costs. The company has allocated a $20 million reward fund to aid in the prosecution of those responsible for the incident. This decision highlights Coinbase’s commitment to long-term security over immediate ransom payment, aligning with industry trends where phishing attacks often follow PII leaks.