Coinbase's Recent Breach Affected Nearly 70,000 Users

Coinbase, one of the most-used and well-known crypto exchanges, revealed today that 69461 people had been affected in the breach.

Coinbase (COIN) disclosed in a recent filing that a significant data breach in December 2024 affected nearly 70,000 users.

The disclosure, made to the attorney general of Maine, provides further details about the breach, which was discovered on May 11. According to the filing, the breach occurred on December 26 and involved “insider wrongdoing.”

The filing also noted that "approximately 217" people in Maine were affected by the breach.

Earlier this month, Coinbase announced that a small subset of users had some of their personal details stolen in an incident where hackers recruited customer-support agents to grant them access to user accounts.

Coinbase previously disclosed that it was the subject of a major crypto scam in December 2024. At the time, the company said it was notified by email that a "subset" of its customers had been contacted by an email scammer. The scammer threatened to harm the customers’ families unless they paid in cryptocurrency.

Coinbase added that it received a ransom note from the hackers, who were demanding $20 million to release the stolen data. But Coinbase said it had no intention of paying the ransom and was instead establishing a $20 million reward fund for information leading to the arrest and conviction of the criminals responsible for the attack.