Coinbase now faces a federal investigation after a serious cyberattack hit its systems earlier this month.
The U.S. Department of Justice has launched a probe to uncover who was behind the breach and how it happened.
On May 11, someone emailed the company claiming access to internal documents and user data. The threat actor claimed to have information on specific customer accounts as well.
Hackers Target User Data, Internal Files
According to Coinbase, the attacker stole names, home addresses, and emails. However, login credentials and passwords stayed secure, the company noted.
Despite that, the financial hit could be massive. Coinbase estimates losses could land anywhere between $180 million and $400 million due to the breach.
Criminal Division in Washington Leads Investigation
The DOJ’s criminal division in Washington is leading the case, Bloomberg reported. Investigators want to know how the breach happened and whether criminal charges are warranted.
This breach raises fresh concerns about cybersecurity in the crypto space. Exchanges like Coinbase handle billions in digital assets and millions of user records, making them prime targets for attackers.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/federal-investigation-launched-into-coinbase-cyberattack-incident/