Coinbase's Shocking Data Breach: A Timeline of Secrecy and Insider Betrayal

Holy crypto scandal, Batman! Coinbase just dropped a bombshell about a security breach that rocked customer data to its core. But hold onto your hats, because new details are blowing the lid off their transparency and timeline.

This Coinbase customer breach was no small potatoes. We're talking sensitive user data flying out the door - names, IDs, phone numbers, addresses, you name it! The exchange finally spilled the beans on May 15, 2025, and oh yeah, the attackers tried to shake them down for a cool $20 million. Talk about a digital heist!

But get this - Reuters is spilling tea that Coinbase knew about this mess way back in January. In their May SEC filing, they admitted to learning about accessed employee data "in previous months" but didn't grasp the full extent until the cybercriminals hit them with that extortion demand. What the heck, Coinbase?

As the drama unfolded, the true scope of this coordinated scheme hit like a ton of Bitcoins.

Coinbase customer data breach ties to insider operation

Brace yourselves, because this breach started with an India-based TaskUs employee, a U.S. outsourcing firm. Former employees are dishing that she was caught snapping pics of customer data from her work computer with her personal device. She and a suspected accomplice allegedly sold that juicy Coinbase user info to bad actors for cold, hard cash.

TaskUs is owning up to it, confirming they canned two employees, along with another 200, for unauthorized data access. They're calling it part of a "broader, coordinated criminal campaign." Yikes!

Coinbase has since cut ties with the culprits and tightened up their security, but the big question remains - why wait until mid-May to come clean about this breach? With potential financial and reputational damage on the line, this is a real head-scratcher.

Let's not forget, security breaches are the bane of the crypto industry's existence. Malicious actors are always lurking, ready to pounce on unsuspecting victims. Just in May alone, hacks and exploits drained an estimated $244.1 million. The stakes are high, and the crypto world is on edge.