Coinbase Hacked: Up to $400M at Risk After Insider Scam

Coinbase, one of the biggest names in crypto, is dealing with a serious mess. A recent cyber attack targeted the company’s internal systems through a mix of deception and insider manipulation. The Coinbase hack wasn’t just another phishing attempt. It involved insiders, stolen data, and a potential $400 million fallout. Now, the fallout could cost.. The post Coinbase Hacked: Up to $400M at Risk After Insider Scam appeared first on 99Bitcoins.

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May 16, 2025 - 15:03

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Coinbase Hacked: Up to $400M at Risk After Insider Scam

Coinbase, one of the biggest names in crypto, is dealing with a serious mess. A recent cyber attack targeted the company’s internal systems through a mix of deception and insider manipulation. The Coinbase hack wasn’t just another phishing attempt. It involved insiders, stolen data, and a potential $400 million fallout. Now, the fallout could cost the exchange anywhere from $180 million to $400 million, and that’s before we even get into reputational damage.

The Attack Started With a Single Email

It all began on May 11, when Coinbase received an email from someone claiming they had stolen customer data. But this wasn’t your usual phishing scam. According to the company, the attackers paid off a handful of contractors and employees to get access to internal tools and information. From there, they used that access to impersonate Coinbase staff and trick users into handing over their crypto.