"The arrest follows a May disclosure by Coinbase that "a group of rogue overseas support agents" working for the US-based cryptocurrency exchange had allegedly taken bribes from cybercriminals in exchange for nearly 70,000 customer records. According to Coinbase, the December 2024 incident involved the theft of names, addresses, phone numbers, email addresses, images of government IDs, account data, masked SSNs and bank account information, and "limited corporate data.""
"Nonetheless, the criminals behind the theft reportedly used the stolen information to trick some Coinbase users into handing over cryptocurrency while posing as Coinbase employees, as well as trying to use the incident to extort the company for $20 million. "Instead of paying the $20 million ransom, we're establishing a $20 million reward fund for information leading to the arrest and conviction of the attackers," Coinbase said in May."
Coinbase reported that rogue overseas support agents allegedly accepted bribes and exfiltrated nearly 70,000 customer records. The December 2024 breach exposed names, addresses, phone numbers, email addresses, images of government IDs, account data, masked SSNs, bank account details and limited corporate data, while no 2FA codes, private keys or wallet access were taken. Criminals used the stolen information to impersonate support and trick some customers into handing over cryptocurrency and attempted a $20 million extortion demand. Hyderabad police arrested an ex-Coinbase customer service agent, and Coinbase established a $20 million reward fund for information leading to convictions.
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