05/16/2025
Coinbase got hit with a $20M ransom demand—and said no.
Instead of giving in, they’re using that same money to reimburse impacted customers and offering a $20M reward for help catching the attackers.
The breach came from social engineering: threat actors bribed third-party support staff overseas to leak sensitive customer info. Big reminder that your security is only as strong as your weakest link.
Respect to Coinbase for standing their ground and backing their users.