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Cryptocurrency News Articles

Coinbase Global Inc. was hacked, causing customer information leakage.

May 16, 2025 at 09:51 am

Coinbase is expected to cost up to $400 million due to its response to the accident and compensation.

Coinbase Global Inc. was hacked, causing customer information leakage.

Coinbase, the largest virtual asset exchange in the U.S., was hacked, causing customer information leakage.

Local media reported that Coinbase is expected to cost up to $400 million due to its response to the accident and compensation.

The market impact was not significant as Coinbase's wallet was not directly robbed in the hack. However, the decline was large in line with the correction due to the overheating of the market.

Bitcoin (BTC) is trading at $103,571, up 0.09% from 24 hours ago.

Bitcoin has been going sideways for more than a week since it exceeded $100,000 on the 8th.

Bitcoin continued its moderate trend, but altcoin declined.

Ethereum (ETH), which has recently been on a high rise, fell about 2.34%, and Solana (SOL) also fell 4.23%.

Ethereum's weakness is noticeable when looking at the trend since 4 o'clock on the 14th, when Ethereum hit a new record of $2,738.

Ethereum was down 4.82% from then until 10:35 today.

TOTAL3, the market capitalization of coins excluding Bitcoin and Ethereum, fell 4.80% during the same period.

Bitcoin was the best performer, down 0.79%.

In particular, the decline in meme coins was large.

According to CoinMarketCap, the market capitalization of the meme coin sector reached $67.7 billion as of 8:13 a.m. on the 16th.

Considering that it hit $75.9 billion on the 14th, it is a 10.78% decrease in two days.

Even with individual meme coins, the decline occurred as the virtual asset market underwent an adjustment the previous day.

Dogecoin (DOGE) is down 10.6% over the same period, Shiba Inu (SHIB) is down 10.9%, Pepe 11.6%, Trump 8.3% and Bonk 12.3%.

The most notable news is the hacking news of Coinbase.

According to Bloomberg News on the 15th (local time), Coinbase announced in a report to U.S. regulators that its system was hacked and customer data was stolen.

Coinbase explained that the hacker contacted them on the 11th and demanded money in exchange for not disclosing the data he took out.

The hacked information is the last four digits of the customer's name, mail and e-mail address, phone number, and user's social security number.

Coinbase expects about $180 million (251.7 billion won) to $400 million (559.4 billion won) in costs related to recovery and customer compensation from the hack.

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Other articles published on May 16, 2025