$20M Bounty: Coinbase’s Drastic Move After Explosive Insider Data Breach
Coinbase offers a $20M bounty after insiders leaked user data in a major breach. Can trust in crypto platforms be restored?
In a dramatic response to a major data breach, crypto giant Coinbase has offered a $20 million bounty to help track down those responsible — and prevent future attacks.
According to reports, overseas customer support staff were bribed to illegally access sensitive customer information. The breach has shaken investor confidence and raised serious questions about internal security protocols.
What happened?
A group of bad actors reportedly paid insiders to leak customer data — a dangerous move that could expose thousands to potential phishing and financial scams. Coinbase has not disclosed the number of affected users but acknowledged that this was a highly targeted and professional operation.
Why it matters:
Coinbase is one of the world’s largest and most regulated exchanges. This incident shows that no system is immune when insider threats are involved. The company’s $20M bounty is both a call for justice and a warning to others in the industry.
Looking forward:
Coinbase has vowed to strengthen its security and monitoring systems, while the crypto community watches closely to see how this breach will reshape trust in centralized platforms.
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