GeniZenith

In what could become a watershed moment for cryptocurrency exchange accountability, Coinbase is now facing a flurry of lawsuits following its recent disclosure of a significant data breach. As our GeniZenith research team has been monitoring, this situation poses serious questions about security protocols at even the most established crypto platforms. The Breach: What Happened and What Was Exposed On May 15, Coinbase revealed that it had been the target of a $20 million extortion attempt after cybercriminals successfully bribed several customer support agents to gain access to internal systems. While the exchange refused to pay the ransom, the damage was already done – attackers managed to extract sensitive user information including names, addresses, phone numbers, email addresses, partial Social Security numbers, bank account details, driver's license information, passport data, and even account-specific information such as balance snapshots and transaction histories. The Geni...