Queen Base CEO Brian Armstrong said in a social media post on Thursday that a ransom note was reached by email demanding $ 20 million in Bitcoin, in return for which hackers do not release information obtained on coin base users.
“I’m going to answer publicly,” said Armstrong. “We’re not going to pay the ransom.”
– Brian Armstrong (@Brian_ Armstrong) May 15, 2025
Armstrong said the attackers received a “weak link” customer service agent outside the United States, which accepted “bribe” and gave users personal data.
In a company blog post, Coin Base said it would cheat customers to send funds to the attacker. Hackers got access to names, addresses, phone numbers and emails. Masked social security number (the last four digits only); Masked bank – account number; And government photos (driver’s license, passport). The company says no passwords or private keys were obtained. The email arrived on Sunday.
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“Stolen data) allows them to carry out social engineering attacks where they can call our customers to imitate Coinbase customer support and try to send their funds to the attackers,” said Armstrong, “(stolen data) allows them to carry out social engineering attacks.
According to the AP, the Coin Base has estimated in filing with the SEC that the treatment costs of the incident and the payments of volunteer consumer “can be spent anywhere between $ 180 million and $ 400 million.”
Meanwhile, New York Times It is reported that the SEC is investigating the coin base separately about reporting wrong numbers during its IPO in 2021. The company claims that marketing content has more than 100 million “certified users”.
On Thursday, after the news of Yahoo, the coin base stock declined by 7 %.
Related: More than 10 billion passwords have been exposed in the biggest password hack of date
Queen Base CEO Brian Armstrong said in a social media post on Thursday that a ransom note was reached by email demanding $ 20 million in Bitcoin, in return for which hackers do not release information obtained on coin base users.
“I’m going to answer publicly,” said Armstrong. “We’re not going to pay the ransom.”
– Brian Armstrong (@Brian_ Armstrong) May 15, 2025
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