Coinbase CEO: Former customer service staff involved in May's customer data breach arrested in India

According to Bloomberg, Coinbase Global Inc. CEO Brian Armstrong stated that a former customer service representative was arrested in India.

In the months prior, hackers bribed customer service personnel to obtain customer information. In May of this year, the company reported that hackers had bribed contractors or employees outside the United States to steal sensitive customer data and demanded a ransom of $20 million. This is one of the most notable security breaches faced by the cryptocurrency exchange platform. At that time, Coinbase estimated that the remediation costs for this incident could be as high as $400 million.