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Coinbase Faces DOJ Heat Over Hack As It Enters S&P Spotlight

  • Coinbase's stock dipped on its entry day into the S&P 500, following news of a US Justice Department probe into a hack that compromised customer data.
  • The DOJ's criminal division is investigating how hackers managed to steal customer data by bribing support staff at Coinbase, leading to a breach affecting personal details.
  • Coinbase offered a $20 million reward and promised full reimbursements to affected users, as lawsuits mount over the compromised data and top executives like Roelof Botha face consequences.
  • While becoming the first crypto firm on the S&P 500, Coinbase's stock debut was marred by regulatory challenges, including ongoing SEC investigations and now the DOJ's involvement in the hack.

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