Coinbase Plays Uno Reverse on Hackers

Keypoints :

• Cybercriminals bribed Coinbase customer support agents to access sensitive user data, including IDs, crypto balances, and transaction history.
• Coinbase refused the ransom demand of $20 million and instead launched a bounty for information leading to the criminals’ arrest, but expects to incur costs up to $400 million.
• The breach potentially exposes hundreds of thousands of users, with Coinbase offering reimbursements to those scammed before the data became public.
• Data brokers gather and sell personal information, prompting services like Delete Me to help individuals remove their data from such profiles.
• The notorious ransomware gang Lockbit’s website was hacked and defaced, releasing sensitive data like Bitcoin addresses and chat logs with victims.
• Lockbit’s leader claims the hack damages their reputation, but the gang continues operations; similar defacements target other ransomware groups like Everest.
• Paying ransoms, as seen with Powerschool and other incidents, does not guarantee data deletion and can lead to further extortion and double dipping by hackers.