Coinbase: Refuses to pay $20 million ransom and sets up a $20 million reward fund to track down the attackers

ChainCatcher news, Coinbase stated on social media that hackers obtained some personal information of less than 1% of active users by bribing overseas customer service personnel, but passwords, private keys, or funds were not involved.

Coinbase refused to pay the $20 million ransom and instead set up a $20 million reward fund to track down the attackers. Affected customers who are scammed and lose money will be compensated. Prime accounts were not affected, and the case is currently under investigation in cooperation with law enforcement.

Coinbase officials estimate the losses from this ransomware incident to be between $180 million and $400 million.