Cryptocurrency exchange Coinbase will pay $20 million for information about hackers

The largest American crypto exchange Coinbase has disclosed information about a massive leak of customer data, which was facilitated by the platform's support workers from abroad. The company's incident report has been sent to the US Securities and Exchange Commission (SEC).

The attackers bribed several contractors working for the platform's support service outside of the United States. They gave them access to internal systems, allowing the hackers to collect data from less than 1% of users. However, passwords, private keys, and digital assets were not affected, and funds on Coinbase Prime (a platform for institutional clients) remained safe.

The company later received a letter from scammers claiming to have access to confidential data and internal documents. The hackers demanded a $20 million ransom for customers' personal information, but Coinbase refused to comply, deciding instead to launch a rewards program.

Now the exchange is offering up to $20 million in rewards for information that will help find the culprits. Law enforcement agencies are already involved in the investigation, and the employees involved in the leak have been fired and handed over to the investigation. Following the incident, the exchange has strengthened security measures for users.

Earlier it was reported that, according to an investigation by on-chain expert ZachXBT, over the past seven days, hackers withdrew $45 million from users of the Coinbase crypto exchange using fraud and manipulation methods.