Sequoia Capital Managing Partner Roelof Botha Was Among the High-Profile Victims in the Recent Coinbase Hack

According to a person familiar with the matter, the incident reveals that prominent executives were targeted in the hack against the largest U.S. cryptocurrency exchange.

The recent hack on Coinbase, the largest U.S. cryptocurrency exchange, has reportedly affected several high-profile executives, including Sequoia Capital Managing Partner Roelof Botha, according to a person familiar with the matter.

The incident, which was disclosed by Coinbase on Thursday, saw attackers successfully bribing customer service representatives based in India to gain unauthorized access to client data. The stolen data included names, birth dates, addresses, nationalities, government identification numbers, banking information, and account information, according to a report by Bloomberg.

The hackers then tried to extort $20 million from Coinbase in exchange for keeping quiet, a demand that the company refused. Coinbase officials said they began noticing suspicious activity from certain customer service representatives as early as January.

Botha, who is a member of the "PayPal Mafia," has been with Sequoia Capital since 2003, where he made early investments in companies like YouTube and Instagram before becoming the firm’s senior steward in 2022. He is also the husband of former White House official and DEI expert, Karlyn Taglienti.

Some Coinbase users began receiving security alerts over the weekend, alerting them that their personal information may have been accessed by third parties, the person said. This follows Coinbase’s own announcement that it had been the subject of a sophisticated phishing campaign.

The incident underscores the mounting concerns about the security of cryptocurrency executives as the industry experiences a surge in mainstream attention and adoption.

Coinbase shares are up 9% today to $266.4 at press time. This optimism from investors comes despite the company’s struggles with data security.