Coinbase | Crypto

The fallout from Coinbase’s recent data breach has reached a troubling new phase as victims report receiving fraudulent physical letters in the mail, exploiting their exposed personal information to advance a credit protection scam. The Block founder Mike Dudas sounded the alarm in a social media post on June 5, warning that he received a […] The post Coinbase data breach spills offline as victims get scam mail appeared first on CryptoSlate.

A Coinbase insider scandal exposed 70,000 users’ personal data, triggering debates on rethinking crypto’s KYC systems. Coinbase’s recent data breach is prompting renewed calls to remove Know Your Customer (KYC) requirements in licensed cryptocurrency exchanges. Illicit actors bribed the exchange’s overseas customer service agents in December 2024 to gain access to the personal information of 70,000 users. In May, Coinbase admitted that hackers had obtained data such as government-issued ID photos and home addresses. “All this security theater needs to be abolished asap. Time and again it only benefits hackers and extortionists,” said pseudonymous developer Banteg on X. “KYC actually enables crime.” Read more

US government argues Coinbase user James Harper has no right to block IRS access to his crypto records in Supreme Court filing. The US government has urged the Supreme Court not to take up a Coinbase user’s challenge against the Internal Revenue Service’s (IRS) effort to obtain his crypto transaction records. In a filing dated May 30, Solicitor General D. John Sauer argued that Coinbase user James Harper has no Fourth Amendment right to shield his financial records held by the exchange. The government claimed that Harper “voluntarily” shared his data with Coinbase, and that the IRS followed proper legal procedures to obtain it through a judicially approved summons. Read more

Coinbase analysts believe that the $5 billion repayment round initiated by the FTX Recovery Trust could function as a significant injection of liquidity into digital asset markets, potentially influencing trading behavior and asset flows as funds reach affected creditors this week. The FTX Recovery Trust began distributing more than $5 billion in stablecoins on May […] The post Coinbase says FTX repayments could become a $5B market injection appeared first on CryptoSlate.

Coinbase Institutional is expanding its derivatives offering with the launch of 24/7 trading for XRP and Solana futures, starting June 13. According to a May 29 statement, the move aims to provide real-time access for US institutional investors, aligning with the non-stop nature of global crypto markets. Derivatives push The new offering allows investors to […] The post Coinbase adds 24/7 trading for XRP and Solana futures amid derivatives expansion appeared first on CryptoSlate.

Coinbase has leased a major office in San Francisco, marking a return roughly three years after dropping its headquarters model.

Strong demand from US-based investors sends Bitcoin’s Coinbase premium on a 20-day streak, and chart technicals hint at a rally to $118,000. Key takeaways: A 20-day Bitcoin Coinbase Premium streak signals strong institutional investor and retail investor interest. Falling BTC inflows from short- and long-term holders reduce downside risk. Read more

Crypto exchange terms of services you agreed to, but never read, prevent class actions and limit liability if your data or funds are stolen. Coinbase is facing a flurry of lawsuits after disclosing a data breach that compromised nearly 70,000 customer accounts, with estimated losses reaching as high as $400 million. The exchange says overseas customer support agents were bribed into helping scammers gain unauthorized access to user data in December. The company disclosed the attack to the public in May. There were some reports that Coinbase had updated its user agreement just before announcing the breach, with critics accusing the company of adding an arbitration clause that limits class actions. Coinbase maintains that a class action waiver has long been part of its terms. Read more

A major Coinbase breach occurred in 2025 with insiders involved. Coinbase responded differently and the extortion failed. Coinbase, America’s largest cryptocurrency exchange, received an unsolicited email from an unknown threat actor on May 11, 2025. They claimed to possess sensitive information about its customers and demanded a ransom of $20 million.  Before examining the breach, it is interesting to understand how it happened at a public company that spends millions monthly on cybersecurity. In February, blockchain investigator ZachXBT reported increased thefts involving Coinbase users. He blamed aggressive risk models and pointed out Coinbase’s failure to prevent $300 million in yearly losses from social engineering scams.  Read more

“This normalizes crypto exposure in conservative portfolios that might otherwise avoid digital assets,” said Bitpace’s Meryem Habibi. This past week, Coinbase joined the S&P 500, one of the world’s most elite stock indexes — a triumph for the crypto firm, which spent much of the 2020s battling US government agencies like the SEC and Commodity Futures Trading Commission for its survival.  But this attainment is not about one company alone.  “This is more than an achievement for Coinbase; it’s a landmark for the broader crypto and blockchain industry,” said Meryem Habibi, chief revenue officer of Bitpace. Coinbase joining the S&P 500 doesn’t just boost the owner of the largest US cryptocurrency exchange. “It cements the legitimacy of an entire asset class,” she told Cointelegraph.  Read more

A complaint filed with the Maine Attorney General's office also alleges the attack was only discovered six months after it occurred. A recent filing with Maine’s attorney general sheds new light on Coinbase’s data breach, claiming that nearly 70,000 users were impacted and that the incident went unnoticed for nearly six months. According to the filing submitted by legal firm Latham and Watkins LLP, 69,461 Coinbase users were compromised by the breach, 217 of whom are residents of the US state of Maine. The document also indicates the breach occurred on Dec. 26, 2024, but was only discovered on May 11, 2025 — nearly six months following the cybersecurity incident. Read more

Coinbase is facing sharp criticism and regulatory pressure after confirming a significant data breach that exposed personal information of nearly 70,000 users. According to a filing with the Maine Attorney General’s Office, the breach affected 69,461 individuals, of whom 217 were residents of Maine. The exchange also stated that the compromise affected less than 1% […] The post Coinbase under fire for massive data breach affecting nearly 69,461 users appeared first on CryptoSlate.

Brian Armstrong recently said it's "not [his] place" to question Donald Trump's ties to crypto, but the CEO, like many in the industry, has been getting more political. Five years ago, Brian Armstrong wanted employees of his cryptocurrency exchange to refrain from expressing political views at work. Now, the Coinbase CEO seems to be open to involvement with Republican figures, including members of US President Donald Trump’s inner circle. In a May 13 X post, Armstrong said members of the Department of Government Efficiency (DOGE) team, spearheaded by Elon Musk, though not set up as an actual department, would be welcome to implement cost-cutting changes at Coinbase after leaving the US government. Armstrong offered to set up an accelerated onboarding process with the exchange, responding to an interview in which at least one DOGE staffer felt ostracized from Harvard University, where he had been enrolled. Read more

The leaked home addresses of Coinbase users raise significant concerns amid increasing crypto-related crimes in 2025. A recent data breach at crypto exchange Coinbase has raised concerns about user safety after hackers gained access to sensitive information, including home addresses. Coinbase, the world’s third-largest cryptocurrency exchange, confirmed that less than 1% of its transacting monthly users were affected in an attack that may cost the exchange up to $400 million in reimbursement expenses, Cointelegraph reported on May 15. However, the “human cost” of this data breach may be much higher for users, according to Michael Arrington, the founder of TechCrunch and Arrington Capital. Read more

The US Department of Justice (DOJ) is investigating how attackers infiltrated Coinbase in their recent customer data breach incident, Bloomberg News reported on May 19, citing a person familiar with the matter. Coinbase chief legal officer Paul Grewal confirmed the company is cooperating with federal law enforcement and intends to pursue legal action against those […] The post DOJ launches probe into Coinbase’s insider-driven data leak appeared first on CryptoSlate.

US officials are reportedly investigating a data breach that caused many social engineering attacks against Coinbase users and prompted a slew of lawsuits. The US Department of Justice is reportedly conducting a probe over Coinbase’s contracted customer service agents in India, who accepted bribes in exchange for allowing criminals access to user data. According to a May 19 Bloomberg report, DOJ investigators are looking into the data breach, which Coinbase disclosed to the public on May 15. The exchange reported that a group of customer support contractors — subsequently fired — “abused their access to [...] systems to steal the account data for a small subset of customers.” “We have notified and are working with the DOJ and other US and international law enforcement agencies and welcome law enforcement’s pursuit of criminal charges against these bad actors,” said Coinbase’s chief legal officer, Paul Grewal, according to Bloomberg. Read more

Circle is reportedly seeking a sale price of at least $5 billion, which would be around the amount it’s targeting for its IPO. Circle, the issuer of stablecoin USDC (USDC), is still planning an initial public offering (IPO), but the company is also in informal talks with Ripple and Coinbase about a sale, according to a report from Fortune. Circle is seeking at least $5 billion, which is its target for the IPO, according to the four banking and private equity sources Fortune cited. Ripple tried to purchase Circle on April 30, but the $4 billion to $5 billion bid was rejected as being too low. If Ripple or Coinbase were to buy Circle, the details of a purchase would differ. Ripple would pay using cash and XRP (XRP), a cryptocurrency that Ripple created. Coinbase, on the other hand, would use cash and stock. Read more

Circle is pressing ahead with plans to go public, but the stablecoin issuer is also exploring the possibility of a sale to either Coinbase or Ripple, Fortune reported on May 19, citing people familiar with the matter. The company filed paperwork in April for a long-awaited initial public offering (IPO) targeting a $5 billion valuation, […] The post Circle in talks with Coinbase, Ripple over potential sale amid $5B IPO plans appeared first on CryptoSlate.

A retired fabricator was tricked into entering his seed phrase on a fake Coinbase site, losing a crypto portfolio worth $2 million. Retired artist Ed Suman lost over $2 million in cryptocurrency earlier this year after falling victim to a scam involving someone posing as a Coinbase support representative. Suman, 67, spent nearly two decades as a fabricator in the art world, helping build high-profile works such as Jeff Koons’ Balloon Dog sculptures, according to a May 17 report by Bloomberg. After retiring, he turned to cryptocurrency investing, eventually accumulating 17.5 Bitcoin (BTC) and 225 Ether (ETH) — a portfolio that comprised most of his retirement savings. Read more

Details associated with Sequoia Capital partner Roelof Botha’s Coinbase account were reportedly compromised in an attack affecting “less than 1%” of the exchange’s monthly users. At least one partner at Sequoia Capital was reportedly impacted by the recent data breach among Coinbase users, suggesting that data from others at the venture capital firm may also have been compromised. According to a May 16 Bloomberg report, Sequoia Capital Managing Partner Roelof Botha’s personal information available through his Coinbase account was stolen after a group of cybercriminals bribed the exchange’s support agents for access to user data. Though Botha had not publicly disclosed his net worth, estimates suggested he had hundreds of millions of dollars in assets. Coinbase disclosed the data breach in a May 15 blog post, saying that some of its users had been targeted with social engineering attacks after the criminals had access to their personal account information. The company said the group attempted to extort $20 mil...