Major crypto platform hit by ‘$400m’ cyber attack with customers issued danger warning

The world’s third-largest cryptocurrency exchange was hit with a cyber attack that could cost it $400million in reimbursement expenses.

Coinbase revealed last week that it received a threatening email claiming to have information on some customer accounts and company documents, on May 11.

The hackers managed to collect the sensitive data by paying several employees and contractors outside of the US. Coinbase said that all of the involved workers have been fired.

Hackers stole customers’ names, emails and addresses, but did not access their login information or passwords, according to Coinbase.

On Monday, Coinbase’s chief legal officer, Paul Grewal, said they notified the US Department of Justice and other international law enforcement agencies and ‘welcome law enforcement’s pursuit of criminal charges against these bad actors’.

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