Report: Coinbase Learned of Data Breach in January

Core Viewpoint - Coinbase experienced a significant data breach involving an outsourcing company, which led to an extortion attempt by cybercriminals demanding $20 million [1][3][6]. Group 1: Incident Details - Coinbase was informed in January about unauthorized data access by contractors but only recognized the extent of the breach after receiving an extortion demand on May 11 [2][6]. - The breach involved a small group of insiders who copied data from customer support tools, affecting less than 1$20 million reward fund for information leading to the arrest of the criminals [4]. - The estimated remediation costs for the incident range from $180 million to$400 million, with ongoing investigations to determine the full impact [6].