COIN Is S&P 500 Top Performer, Despite Community Backlash Against Coinbase
The post COIN Is S&P 500 Top Performer, Despite Community Backlash Against Coinbase appeared on BitcoinEthereumNews.com. Coinbase’s customer data breach, which the DOJ is investigating, has sparked criticism of the exchange giant. Prominent voices in crypto have taken to X to call out Coinbase after news broke last week of a data breach that saw customers’ private information stolen. The incident has sparked a broader debate about the risks of centralization and data collection requirements. Coinbase’s stock, which trades under the ticker COIN, is fairing exceptionally well despite the criticism from within the crypto industry. COIN is the top gainer in the S&P 500 today, May 22, up 3.75%, evidently surging on Bitcoin breaking two new all-time highs in the past two days. In a major symbolic move for the industry, Coinbase was officially included in the index on Monday, May 19. COIN 1-month price chart. Source: TradingView Also on Monday, news broke that the Department of Justice has opened an investigation into the data breach incident. Coinbase’s chief legal office told Reuters that the top centralized exchange is working with the DOJ “and other US and international law enforcement agencies and welcome law enforcement’s pursuit of criminal charges against these bad actors.” While no funds, private keys or passwords were stolen, customer contact information, including home addresses, were compromised when hackers bribed some Coinbase customer support staffers and contractors for access. Coinbase said it refused to pay a $20 million ransom for the data and reported the incident to authorities. The leading U.S. crypto exchange confirmed that the data breach occurred on Dec. 26, 2024 and was “discovered” on May 11, according to a filing with Maine’s Attorney General, which was released yesterday, May 21. The filing also reveals that a total of 69,461 customers’ data were stolen. The attackers’ “aim was to gather a customer list they could contact while pretending to be Coinbase—tricking…
The post COIN Is S&P 500 Top Performer, Despite Community Backlash Against Coinbase appeared on BitcoinEthereumNews.com.
Coinbase’s customer data breach, which the DOJ is investigating, has sparked criticism of the exchange giant. Prominent voices in crypto have taken to X to call out Coinbase after news broke last week of a data breach that saw customers’ private information stolen. The incident has sparked a broader debate about the risks of centralization and data collection requirements. Coinbase’s stock, which trades under the ticker COIN, is fairing exceptionally well despite the criticism from within the crypto industry. COIN is the top gainer in the S&P 500 today, May 22, up 3.75%, evidently surging on Bitcoin breaking two new all-time highs in the past two days. In a major symbolic move for the industry, Coinbase was officially included in the index on Monday, May 19. COIN 1-month price chart. Source: TradingView Also on Monday, news broke that the Department of Justice has opened an investigation into the data breach incident. Coinbase’s chief legal office told Reuters that the top centralized exchange is working with the DOJ “and other US and international law enforcement agencies and welcome law enforcement’s pursuit of criminal charges against these bad actors.” While no funds, private keys or passwords were stolen, customer contact information, including home addresses, were compromised when hackers bribed some Coinbase customer support staffers and contractors for access. Coinbase said it refused to pay a $20 million ransom for the data and reported the incident to authorities. The leading U.S. crypto exchange confirmed that the data breach occurred on Dec. 26, 2024 and was “discovered” on May 11, according to a filing with Maine’s Attorney General, which was released yesterday, May 21. The filing also reveals that a total of 69,461 customers’ data were stolen. The attackers’ “aim was to gather a customer list they could contact while pretending to be Coinbase—tricking…
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