Coinbase in Crisis: $400M Cyber Attack Rocks Crypto Giant – Is Your Money Safe?
(Source: BBC News)
What Happened?
💥 Hackers stole customer data by tricking Coinbase employees
💰 Up to $400 million could be lost (but Coinbase will repay victims)
📉 Share price dropped 4.1% right before joining S&P 500
The Shocking Details
- Hackers demanded $20 million ransom – Coinbase refused to pay
- Instead, they’re offering a $20M bounty to catch the criminals
- Employees involved were fired immediately
Why This Matters to YOU
🔐 Your crypto could be at risk – scammers may target you next
⚠️ Coinbase warns: Never share passwords or transfer money if asked
🌐 Crypto theft hit $2.2B this year – attacks are getting worse
The Bigger Problem
“Security is still crypto’s weak spot,” says expert Nick Jones. As Bitcoin goes mainstream, hackers get smarter.
What Coinbase Is Doing
✔ Paying back every victim
✔ Working with police to track hackers
✔ Rewarding tips that lead to arrests
Protect Yourself:
✅ Enable 2FA on your account
🚫 Ignore suspicious messages
🔒 Lock your account if something seems wrong
https://www.bbc.com/news/articles/c80k5plpx8do