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Coinbase Faces Backlash For Allegedly Delaying Recent Data Breach Disclosure

  • Coinbase is facing backlash for allegedly delaying the disclosure of a data breach that occurred last month, reportedly knowing about it months before going public.
  • A recent report by Reuters revealed that an India-based TaskUs employee working for Coinbase was caught taking pictures of her work computer to sell information to hackers in January.
  • Coinbase has severed ties with the personnel involved and tightened controls but refrained from disclosing the identity of other foreign agents.
  • Investors have criticized Coinbase for lack of transparency and utilizing overseas contractors for sensitive data, leading to legal scrutiny including class action lawsuits and a Department of Justice investigation.

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