Domestic News - The Ministry of Commerce responded to the U.S. misuse of export control measures against Huawei's Ascend chips, stating that it will take resolute measures to protect the legitimate rights and interests of Chinese enterprises [3] - Alibaba reported a revenue of 236.45 billion yuan for the fourth fiscal quarter and announced a dividend of 4.6 billion USD, while forecasting that profits from Taobao and Tmall may be impacted by investments in instant retail [3] International News - Japan is seeking to hold a third round of trade negotiations with the U.S. next week, while the U.S. is considering modifying the U.S.-Japan trade agreement. The EU and the U.S. will accelerate trade negotiations, with the EU hoping for a greater reduction in tariffs compared to the UK [4] - Coinbase reported that customer data was compromised and rejected a 20 million USD ransom from hackers, while the SEC is investigating the company for allegedly misreporting user numbers [5] - Federal Reserve Chairman Jerome Powell indicated that the Fed is adjusting its overall policy framework, stating that zero interest rates are no longer a baseline scenario and that the wording regarding employment shortfalls and average inflation rates needs to be reconsidered. The April PCE is expected to drop to 2.2% [5] - The International Energy Agency (IEA) slightly raised its forecast for average oil demand growth in 2025 to 740,000 barrels per day and adjusted the supply growth expectation to 1.6 million barrels per day [6]

Group 1: SEC Investigation - Coinbase is cooperating with the SEC regarding an investigation into whether it overstated the number of unique users in past disclosures [1] - The investigation is a continuation from the previous administration concerning a metric that Coinbase stopped reporting two and a half years ago [2] - Coinbase's Chief Legal Officer expressed belief that the investigation should not continue but emphasized the company's commitment to resolving the matter with the SEC [2] Group 2: Legal Context - The SEC dismissed a lawsuit against Coinbase in February 2023, indicating a shift in its regulatory approach to the crypto industry [3] - The SEC had previously sued Coinbase in June 2023 for allegedly violating securities laws by not registering its functions as an exchange, broker, and clearing agency [3] Group 3: Data Breach Incident - Coinbase disclosed a data breach that involved cybercriminals convincing a small group of insiders to copy customer support data, affecting less than 1% of its monthly transacting users [4][5] - The company has taken action by firing the compromised employees, referring them to law enforcement, and committing to reimburse customers who were tricked into sending funds to the attacker [6] - Coinbase is also implementing new customer safeguards following the incident [6]

智通财经5月16日电，黑客从今年1月起就可以访问Coinbase客户数据，Coinbase预计数据泄露将造成高 达4亿美元的损失。 ...

Core Insights - Coinbase has experienced a significant cybersecurity incident affecting the personal information of potentially millions of individuals [1] - The breach involved the theft of sensitive data including customer names, addresses, phone numbers, Social Security numbers, bank account details, and government-issued identity documents [1] - Lynch Carpenter, LLP is investigating claims against Coinbase related to this data breach, offering potential compensation to affected customers [2] Company Impact - The data breach at Coinbase raises concerns about the security measures in place to protect customer information [1] - The incident could lead to legal repercussions for Coinbase, as customers may seek compensation for the breach [2] Industry Context - The incident highlights the growing risks associated with cybersecurity in the financial technology sector, particularly for companies handling sensitive personal data [1] - Legal firms like Lynch Carpenter are increasingly involved in class action lawsuits related to data privacy, indicating a trend towards greater accountability for companies in the event of data breaches [2][3]

Core Viewpoint - Coinbase is under investigation by the U.S. Securities and Exchange Commission (SEC) regarding potential misstatements of its user numbers, specifically the "verified users" metric, which the company claims exceeds 100 million [1][2]. Group 1: Investigation Details - The SEC's inquiry is focused on the number of "verified users" reported by Coinbase, which has been a point of contention since the investigation began during the Biden administration and has continued under the Trump administration's SEC [2]. - Coinbase's chief legal officer stated that the investigation pertains to a metric that the company stopped reporting two and a half years ago, clarifying that the "verified users" metric may overstate the number of unique customers [3]. Group 2: Company Response and Metrics - The company has disclosed a more relevant metric, "monthly transacting users," which reflects the number of users engaging with the platform in a given month [3]. - Coinbase remains committed to cooperating with the SEC to resolve the investigation, despite believing it should not continue [3]. Group 3: Recent Challenges and Developments - Coinbase's stock fell by 6% following the news of the SEC investigation and an incident where hackers stole customer information, demanding a ransom of $20 million, with potential costs to fix the issue estimated at up to $400 million [1][4]. - The company operates the largest crypto exchange in the U.S. and recently announced an acquisition aimed at expanding its global reach, alongside gaining entry to the S&P 500 stock index, effective next week [5].

Core Insights - Coinbase reported a significant security breach involving network criminals bribing overseas support staff to steal customer data for social engineering attacks [1] - The estimated cost to remediate this incident could reach up to $400 million [1] - The breach was disclosed in a filing to the U.S. Securities and Exchange Commission (SEC), indicating that sensitive customer account information and internal documents were compromised [1] Company Summary - On May 11, Coinbase received an email claiming that certain customer account information and other internal documents had been accessed [1] - The compromised materials included information related to customer service and account management systems [1]

Group 1 - Coinbase experienced a significant decline, with an intraday drop exceeding 8.3% [1] - The U.S. Securities and Exchange Commission (SEC) is investigating Coinbase for potentially misreporting user data [1] - The investigation by the SEC was initiated during the tenure of former President Biden [1]

Group 1 - Coinbase experienced a significant data breach, leading to a stock drop of 7.4%, which later narrowed to 4.48% [1] - The company disclosed that the breach could result in losses ranging from $180 million to $400 million, with the total impact still being assessed [1] - The leaked data included personal information such as names, contact details, partial social security numbers, and bank account identifiers [1] Group 2 - The data breach occurred just as Coinbase was set to be included in the S&P 500 index, marking a significant milestone for the company and the cryptocurrency industry [2] - Following the announcement of its inclusion in the S&P 500, Coinbase's stock price surged by 24% to $256.90, prompting analysts to raise their price targets [2]

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: The Coinbase logo covers the Nasdaq MarketSite in New York's Times Square, April 14, 2021. Credit: AP Photo/Richard Drew, File Coinbase, the largest cryptocurrency exchange based in the U.S., said Thursday that criminals had improperly obtained personal data on the exchange's customers for use in crypto-stealing scams and were d ...

Core Insights - Coinbase is reimbursing users after a data breach that led to an extortion attempt, affecting less than 1% of its monthly transacting users [1][2] - The attackers aimed to gather customer information to impersonate Coinbase and extort the company for $20 million, which Coinbase refused [2] - The breach resulted in the theft of personal information, including names, addresses, phone numbers, emails, and partial Social Security numbers, but did not compromise customer login credentials or funds [3][4] Company Response - Coinbase terminated the employees involved in the breach and plans to pursue criminal charges against them [2] - The company is enhancing customer safeguards, establishing a new U.S. support hub, and increasing investment in cyber threat detection [5] - Instead of paying the ransom, Coinbase is creating a $20 million reward fund for information leading to the arrest and conviction of the attackers [5] Industry Context - The incident follows a report from the FBI indicating a significant rise in cryptocurrency fraud, with reported losses of at least $9.3 billion in the previous year, marking a 66% increase from 2023 [6] - The FBI has notified over 5,400 victims of crypto-related fraud between January 2024 and April 2024, many of whom were unaware of being targeted [6]