Coinbase Discloses Arrest Of Former Customer Agent Over Data Breach Report Bitcoinistcom

pAccording to the latest report a former Coinbase customer service contractor has been arrested in India for their role in a recent data breach incident This arrest comes after hackers reportedly bribed customer service representatives or contractors to gain access to customer information at the USs largest cryptocurrency exchangeppIn May Coinbase revealed that hackers bribed contractors or the companys employees outside to steal sensitive user information While the San Franciscobased crypto firm faced backlash for allegedly disclosing the data breach months after initial discovery several employees of the US outsourcing firm TaskUs were laid off following the incidentppOn Friday December 26 a Bloomberg report stated that Coinbase CEO Brian Armstrong announced a former customer service agent had been arrested in India in connection with the data breach that occurred earlier in the year The crypto exchange estimated at the time of the incident that this information leak could cost as much as 400 millionppEarlier reports suggested that an Indiabased TaskUs employee was caught taking pictures of her work computer with her phone to sell it to hackers at the start of the year The suspected employee and an accomplice were providing sensitive Coinbase customer data to malicious actors in return for bribes Bitcoinist disclosed earlierppArmstrong said in a post on the social media platform X that the Hyderabad Police have picked up an exCoinbase customer service agent with more arrests still to come We have zero tolerance for bad behavior and will continue to work with law enforcement to bring bad actors to justice the crypto CEO saidpp2025 proved to be another challenging year for security across the global cryptocurrency industry marked by several significant exploits and hacks that rocked the space As Bitcoinist reported over 34 billion worth of crypto assets were lost to hacks and exploits this yearppHowever this latest development would come as a positive step for Coinbase which largely struggled with platform security in 2025 Earlier in February an investigative report found that customers lost more than 65 million to social engineering exploits in just two monthsppMeanwhile a 23yearold Brooklyn man was indicted on 31 counts for allegedly operating a phishing scheme that defrauded about 100 Coinbase customers of approximately 16 million in cryptocurrency Going into 2026 the cryptocurrency exchange would be hoping to offer a more secure platform for its usersppppFor updates and exclusive offers enter your emailpp
Opeyemi Sule is a passionate crypto enthusiast a proficient content writer and a journalist at Bitcoinist Opeyemi creates unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies Opeyemi enjoys reading poetry chatting about politics and listening to music in addition to his strong interest in cryptocurrency ppBitcoin news portal providing breaking news guides price analysis about decentralized digital money blockchain technologypp 2025 Bitcoinist All Rights Reservedp