Live data from Hacker News

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

cnbc.com

441–450 of 550 posts

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

#441

Earlier quoted context omitted.

This may seem callous, but isn't a large point of crypto that you are 'free' from the shackles imposed by the State? And I guess that includes protection from criminals by the oppressive forces of the State (aka the police). In which case being kidnapped and having your fingers sent to your family is an integral part of your 'freedom'.

Crypto isn’t synonymous with anarchy, just like the internet isn’t synonymous with pornography. Both are cliches from long ago. All of the victims are likely tax payers. Law and order is a fundamental service that a legitimate state must provide to all in its jurisdiction, even those who are only resident non-citizens and those that pay little to no taxes in a progressive tax system.

> Crypto isn’t synonymous with anarchy, just like the internet isn’t synonymous with pornography. Both are cliches from long ago.

Saying crypto isn’t synonymous with anarchy, like the internet isn’t with pornography, sidesteps the point. Pornography is just one use of the internet — not its central purpose.

But crypto wasn’t just built to host financial activity — it was designed to restructure it, removing reliance on central authorities. That core intent isn’t a cliché; it’s a defining feature.

Comparing it to incidental internet content is a rhetorical deflection, not a real counterpoint.

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

#442

Earlier quoted context omitted.

How can customer support operate without knowing anything about the customer?

CS can validate without knowing the details, the same way you don't enter a password and then check to see if that matches the password in the system. The fact that they keep blaming overseas customer support is pure blame shifting - you still hired someone and gave them access to all this data, Coinbase!

Where do you see blame, this is a fact and it's relevant.

If they didn't say this, there would be pitchforks out about not giving enough information.

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

#443

Earlier quoted context omitted.

If you had any significant assets on Coinbase at any time prior to this breach, spear phishing is the least of your worries. Coinbase not only leaked your full name and address, they also gave up your balances, your transaction history, and images of your government identification. People with "significant" crypto balances are being assaulted on the street and in their own homes, and family members are being kidnappe…

Why do you see this as the fault of Coinbase? Do other companies somehow have employees that are immune to bribes and blackmail? This is due to US Government KYC laws that forced Coinbase to associate government identification with all accounts. No crypto company required ID until they were forced to.

Generally, staff do not have unfettered access to all customer data in most financial companies.

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

#444
post #425

A few days ago I missed a delivery from UPS (in the UK). The next day I got a text from an unrecognised cell phone that just said “Hello” and didn’t respond further. The day after that I got a scam call (another UK cell number) from someone trying to hack into my Amazon account. They wanted me to supply the OTP code that Amazon texts you for 2FA. Anyway I eventually tracked down my package (it was at a convenience st…

Not sure how you relate your UPS delivery with the scam call? Just because it happened the following day you expected a delivery? I could be just a coincidence.

I'm sure scammer's got get your phone number from many other sources and data breaches.

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

#445

Earlier quoted context omitted.

Yeah, but banks and the normie monetary system has a lot more safeguards in it when it comes to account transfers. Or at least, they appear to have them. Crypto? It's wild, and people think it's wild.

I tried to use Coinbase a few months ago to pay for something, and I couldn't even make a transaction because it was deemed suspicious, and my account got locked or something.

Someone with a lot of cryptocurrency in Coinbase is also quite likely (at least relative to the average person) to have lots of on-chain cryptocurrency, too, though.

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

#446
post #46
post #39

Earlier quoted context omitted.

How are you going to vet people to find out if they're vulnerable to bribery? Offer them a bribe during their probationary period, during which they only have access to fake customer data?

You can do a background check, but the reality of the matter is that you pay citizens a living wage to do the work instead of offshore it into a country that pays pennies. Bank tellers can take thousands out of the vault at any time and yet it seems it’s not a very big issue.

Loss prevention is a big deal for employees, not just customers. People steal stuff from their employers ALL the time.

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

#447

Earlier quoted context omitted.

> Coinbase didn't adequately secure sensitive customer information, and it was leaked Practically every company has someone with credentials who is in some combination of debt, a damningly-adulterous relationship, a damningly-illegal substance relationship and/or feels underappreciated or slighted compensationwise. The question is generally how much it costs.

Which is exactly why insider threats should be explored as a threat-model and mitigated to make the blast radius as small as possible via rate PII sanitization, access controls, access monitoring, rate limiting, etc.

Which is what happened here, they didn't get 100% of data, only 1%.

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

#448

Earlier quoted context omitted.

This may seem callous, but isn't a large point of crypto that you are 'free' from the shackles imposed by the State? And I guess that includes protection from criminals by the oppressive forces of the State (aka the police). In which case being kidnapped and having your fingers sent to your family is an integral part of your 'freedom'.

This may be surprising, but I actually don't think opting for a payment method with less consumer protections (that I pay cap gains tax on when if I dispose of it for a profit) is me ceding my right to be protected by the police. You're right that it does seem extremely callous and is honestly a disturbing mindset to have. Hopefully you never experience terror like the victims of the last few months in France experie…

> You're right that it does seem extremely callous and is honestly a disturbing mindset to have. Hopefully you never experience terror like the victims of the last few months in France experienced in your life.

Thanks for the tone-policing. But instead of implicitly suggesting that my mindset or tone is inappropriate, it would be great if we discussed the substance of the points.

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

#449
post #109
post #17

The article keeps saying overseas employees or contractors, but isn't more specific on who Coinbase entrusted with this sensitive customer PII. The bottom line is Coinbase didn't adequately secure sensitive customer information, and it was leaked. Not, "Gosh, 'overseas' people, what can ya do?"

They are probably used as scapegoats and didn't even leak the stuff. Crypto companies tend to do that.

You're probably wrong if you read more into this scenario.

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

#450

Earlier quoted context omitted.

Crypto isn’t synonymous with anarchy, just like the internet isn’t synonymous with pornography. Both are cliches from long ago. All of the victims are likely tax payers. Law and order is a fundamental service that a legitimate state must provide to all in its jurisdiction, even those who are only resident non-citizens and those that pay little to no taxes in a progressive tax system.

> Crypto isn’t synonymous with anarchy, just like the internet isn’t synonymous with pornography. Both are cliches from long ago. Saying crypto isn’t synonymous with anarchy, like the internet isn’t with pornography, sidesteps the point. Pornography is just one use of the internet — not its central purpose. But crypto wasn’t just built to host financial activity — it was designed to restructure it, removing reliance…

Your point is merely a non sequitur: a change in banking isn’t related to paying taxes or the state as a whole, nor anarchy.

You’re not supporting your central thesis that disintermediating finance is in any way related to removing government — and people using Coinbase, a service that is centralized and does collaborate with government regulation seems to directly counter your stereotype of the customers.

Their point is correct: people who match your fantasy wouldn’t be Coinbase customers — you’re relying on old tropes.

Post reply on HN