Best Crypto to Buy Now? Coinbase Reveals $400M Cost of Data Hack
The post Best Crypto to Buy Now? Coinbase Reveals $400M Cost of Data Hack appeared on BitcoinEthereumNews.com. Coinbase faces a critical security breach just days before its S&P 500 listing. Hackers reportedly bribed insiders to bypass protocols, accessed sensitive customer data, and exposed vulnerabilities ahead of its market debut. While Coinbase has pledged full reimbursement and is collaborating with the FBI, trust has eroded—its stock COIN fell over 4% following the incident. The incident highlights broader risks for crypto: as adoption grows, bad actors are increasingly targeting internal vulnerabilities. Amid the uncertainty, investors are prioritizing projects emphasizing decentralization, community-driven security, and transparent innovation. For those evaluating where to navigate this environment, the best crypto to buy now may be those addressing systemic security challenges while advancing blockchain’s core principles. Crypto’s Trust Crisis: Coinbase Hit by $400M Hack with Insider Help Coinbase just got sucker-punched by hackers—and it’s messy. The crypto giant dropped a bombshell blog post today: attackers allegedly bribed employees and contractors to swipe customer data, potentially costing the firm a jaw-dropping $400 million. How? By impersonating Coinbase support and tricking users into coughing up their crypto. “Less than 1%” of customer data was stolen, and the criminals demanded $20 million to keep quiet. Coinbase told them to pound sand. Instead of paying up, Coinbase vowed to refund every victim, even as its stock nosedived 4.1% ahead of its S&P 500 debut. Talk about bad timing. “This isn’t just a Coinbase problem—it’s crypto’s dumpster fire,” said Nick Jones, founder of Zumo. He’s right: Chainalysis reports crypto firms lost $2.2 billion to hackers last year alone. To fight back, Coinbase fired the rogue staff, slapped a $20 million bounty on the hackers’ heads, and teamed up with the FBI. “We’re coming for these clowns,” a company rep growled. But here’s the scary part: this isn’t some lone wolf attack. As crypto goes mainstream, hackers are weaponizing insider access…
The post Best Crypto to Buy Now? Coinbase Reveals $400M Cost of Data Hack appeared on BitcoinEthereumNews.com.
Coinbase faces a critical security breach just days before its S&P 500 listing. Hackers reportedly bribed insiders to bypass protocols, accessed sensitive customer data, and exposed vulnerabilities ahead of its market debut. While Coinbase has pledged full reimbursement and is collaborating with the FBI, trust has eroded—its stock COIN fell over 4% following the incident. The incident highlights broader risks for crypto: as adoption grows, bad actors are increasingly targeting internal vulnerabilities. Amid the uncertainty, investors are prioritizing projects emphasizing decentralization, community-driven security, and transparent innovation. For those evaluating where to navigate this environment, the best crypto to buy now may be those addressing systemic security challenges while advancing blockchain’s core principles. Crypto’s Trust Crisis: Coinbase Hit by $400M Hack with Insider Help Coinbase just got sucker-punched by hackers—and it’s messy. The crypto giant dropped a bombshell blog post today: attackers allegedly bribed employees and contractors to swipe customer data, potentially costing the firm a jaw-dropping $400 million. How? By impersonating Coinbase support and tricking users into coughing up their crypto. “Less than 1%” of customer data was stolen, and the criminals demanded $20 million to keep quiet. Coinbase told them to pound sand. Instead of paying up, Coinbase vowed to refund every victim, even as its stock nosedived 4.1% ahead of its S&P 500 debut. Talk about bad timing. “This isn’t just a Coinbase problem—it’s crypto’s dumpster fire,” said Nick Jones, founder of Zumo. He’s right: Chainalysis reports crypto firms lost $2.2 billion to hackers last year alone. To fight back, Coinbase fired the rogue staff, slapped a $20 million bounty on the hackers’ heads, and teamed up with the FBI. “We’re coming for these clowns,” a company rep growled. But here’s the scary part: this isn’t some lone wolf attack. As crypto goes mainstream, hackers are weaponizing insider access…
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