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Coinbase says hackers bribed staff to steal customer data, demanding $20M ransom

cnbc.com

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Re: Coinbase says hackers bribed staff to steal customer data, demanding $20M ransom

#3

Post by mooreds »

Oops, I was wrong:

From https://techcrunch.com/2025/05/15/coinbase-says-customers-pe...

> The company said the hacker stole customer names, postal and email addresses, phone numbers, and the last four-digits of users’ Social Security numbers. The hacker also took masked bank account numbers and some banking identifiers, as well as customers’ government-issued identity documents, such as driver’s licenses and passports. The stolen data also includes account balance data and transaction histories.

Re: Coinbase says hackers bribed staff to steal customer data, demanding $20M ransom

#5

Post by [deleted] »

mooreds wrote: post #3

Oops, I was wrong: From https://techcrunch.com/2025/05/15/coinbase-says-customers-pe... > The company said the hacker stole customer names, postal and email addresses, phone numbers, and the last four-digits of users’ Social Security numbers. The hacker also took masked bank account numbers and some banking identifiers, as well as customers’ government-issued identity documents, such as driver’s licenses and passport…

[deleted]

Re: Coinbase says hackers bribed staff to steal customer data, demanding $20M ransom

#7

Post by OhMeadhbh »

I mean... wasn't coinbase sort of scammy to begin with? Several years ago I gave them some USD, turned it into BTC, saw the value of the BTC go up, but when I tried to cash out was told that wasn't a thing that was supported by their platform. Later I was told I could apply for a $399/year credit card and could partially pay off the balance with BTC sale proceeds. I'm sure this was all disclosed somewhere in the terms of service I clicked through, and I only lost $1000 to their scheme.

But I've always wondered why people think this is how investment vehicles work. I monkeyed around with stock market bets and even Robin Hood allows you to cash out of your positions.

Re: Coinbase says hackers bribed staff to steal customer data, demanding $20M ransom

#8

Post by kordlessagain »

OhMeadhbh wrote: post #7

I mean... wasn't coinbase sort of scammy to begin with? Several years ago I gave them some USD, turned it into BTC, saw the value of the BTC go up, but when I tried to cash out was told that wasn't a thing that was supported by their platform. Later I was told I could apply for a $399/year credit card and could partially pay off the balance with BTC sale proceeds. I'm sure this was all disclosed somewhere in the term…

It's more likely you didn't "lose" $1k, but that you had "missed profits". And if you missed the profits because you didn't verify yourself earlier for withdrawal, then that's on you.

Coinbase supported direct bank withdrawals well before they launched their crypto debit cards.

Re: Coinbase says hackers bribed staff to steal customer data, demanding $20M ransom

#9

Post by allears »

OhMeadhbh wrote: post #7

I mean... wasn't coinbase sort of scammy to begin with? Several years ago I gave them some USD, turned it into BTC, saw the value of the BTC go up, but when I tried to cash out was told that wasn't a thing that was supported by their platform. Later I was told I could apply for a $399/year credit card and could partially pay off the balance with BTC sale proceeds. I'm sure this was all disclosed somewhere in the term…

I dunno why you had problems, but I've been using Coinbase with no problems at all for years. It's linked to my bank account, so if I want to pay for something with bitcoin, I can easily buy and send bitcoin with just a few clicks. I don't invest or speculate in bitcoin, so I only maintain a small account balance. And selling bitcoin and transferring the proceeds to my bank account has been just as easy and trouble-free.
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