Coinbase Hack Bombshell: Sequoia Capital Titan’s Data Stolen in Breach!
Coinbase hack leaks data of Sequoia Capital’s Roelof Botha! Will this $400M cyberattack shake crypto trust?
Coinbase Hack Bombshell: Sequoia Capital Titan’s Data Stolen in Breach!
Coinbase, the largest U.S. crypto exchange, revealed on May 15, 2025, a major cyberattack that compromised personal data of less than 1% of its 9.7 million monthly users, including Sequoia Capital Managing Partner Roelof Botha. Hackers bribed overseas support agents, mostly in India, to steal sensitive information like phone numbers, addresses, and account details. The breach, costing Coinbase an estimated $180–$400 million in reimbursements and remediation, sparked a $20 million ransom demand, which the company refused, offering a bounty instead.
What Went Down?
The attack began with cybercriminals targeting customer service contractors, detected as early as January 2025. Botha, a “PayPal Mafia” member and investor in YouTube and Instagram, had his Coinbase account data exposed. No passwords or wallet keys were stolen, but the breach triggered phishing scams, with some users losing funds. Coinbase fired the involved agents, is cooperating with law enforcement, and faces a lawsuit alleging failure to secure user data.
The attack began with cybercriminals targeting customer service contractors, detected as early as January 2025. Botha, a “PayPal Mafia” member and investor in YouTube and Instagram, had his Coinbase account data exposed. No passwords or wallet keys were stolen, but the breach triggered phishing scams, with some users losing funds. Coinbase fired the involved agents, is cooperating with law enforcement, and faces a lawsuit alleging failure to secure user data.
Why It Matters
For crypto newcomers, this breach highlights the risks of centralized exchanges. High-profile victims like Botha underscore the broad reach of cybercrime, shaking trust in crypto platforms. The incident, alongside Coinbase’s S&P 500 inclusion on May 19, could fuel calls for stricter regulations. Investors should prioritize secure wallets and two-factor authentication to avoid scams.
For crypto newcomers, this breach highlights the risks of centralized exchanges. High-profile victims like Botha underscore the broad reach of cybercrime, shaking trust in crypto platforms. The incident, alongside Coinbase’s S&P 500 inclusion on May 19, could fuel calls for stricter regulations. Investors should prioritize secure wallets and two-factor authentication to avoid scams.
What’s Next?
Coinbase’s stock dipped 6% post-news but later rose 9% to $266.4, showing market resilience. Ongoing SEC probes and potential lawsuits may pressure the exchange, while the $20 million bounty aims to catch the culprits. Stay vigilant and verify platform security.
Coinbase’s stock dipped 6% post-news but later rose 9% to $266.4, showing market resilience. Ongoing SEC probes and potential lawsuits may pressure the exchange, while the $20 million bounty aims to catch the culprits. Stay vigilant and verify platform security.
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NOTICE:
The information provided on trafy.io does not constitute investment advice or recommendations. All investment and trading activities involve risks, and readers are advised to conduct their own research before making decisions.
NOTICE:
The information provided on trafy.io does not constitute investment advice or recommendations. All investment and trading activities involve risks, and readers are advised to conduct their own research before making decisions.
