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Coinbase has revealed a security breach involving the bribery of its overseas customer support agents, leading to the theft of account data for less than 1% of its user base. The cybercriminals offered cash incentives to a small group of insiders to access and copy sensitive customer data. Despite the breach, an extortion attempt demanding $20 million from Coinbase was unsuccessful. This incident underscores the vulnerabilities posed by insider threats and highlights the need for robust internal security protocols and employee training. As cryptocurrency platforms continue to be attractive targets for cybercriminals, companies must enhance their defenses to protect user data and maintain trust.

Coinbase faces a security breach as cyber actors bribe agents, leaking data of ~1% users. A $20M extortion attempt failed, spotlighting insider threat risks. Strengthening security protocols is crucial. #Cybersecurity #DataBreach #Cryptocurrency #InsiderThreats