<ul><li>The largest cryptocurrency exchange in the US, Coinbase, estimates that a recent cyber-attack could cost between $180m and $400m, excluding the $20m ransom demanded by hackers.</li><li>Hackers breached account data of a small subset of customers, stealing information like names, addresses, and emails, but not login credentials. Coinbase has announced plans to reimburse affected customers.</li><li>The attackers paid contractors and employees outside the US to collect internal system information. Coinbase terminated the involved employees and declined to pay the $20m ransom, instead offering a $20m reward for information on the attackers.</li><li>Security challenges persist in the crypto industry; recently, Bybit disclosed a $1.5bn token theft. A report by Chainalysis revealed that hacked funds from crypto platforms amounted to $2.2bn in 2024, marking the fourth consecutive year with over $1bn in hacks.</li></ul>

Largest US crypto exchange says cost of recent cyber-attack could reach $400m

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