Coinbase Tightens Security with In-Person Training Requirement Following Cyberattack

Following a cyberattack that saw North Korean IT workers posing as remote developers infiltrate Coinbase’s workforce, the exchange has implemented stricter security measures. This move follows an incident where a $20 million extortion attempt was made on Coinbase, and the company is investing heavily in hiring practices to prevent future breaches. 69,461 user accounts were compromised in the attack, but no major crypto assets were affected. Coinbase CEO Brian Armstrong has taken steps to require in-person training for all employees in sensitive roles as a preventative measure. The company’s security measures aim to deter similar attacks in the future. This incident highlights concerns regarding insider threats and vulnerabilities associated with decentralized staffing in the cryptocurrency industry.