Coinbase CEO announces first arrest in India over insider data breach: ‘More still to come’

Coinbase CEO Brian Armstrong announced via X that Indian law enforcement has arrested a former Coinbase customer service agent in Hyderabad in connection with the data breach disclosed in May. The breach, which started in December 2024, involved cybercriminals bribing offshore customer service representatives to steal user data, affecting 69,461 users. Coinbase refused to pay the $20 million ransom demanded by the attackers and instead offered a bounty for information leading to arrests. A Fortune investigation traced the breach to agents at TaskUs, a BPO firm operating in India. Coinbase reported $307 million in breach-related expenses in Q2 and faces a shareholder lawsuit. This arrest follows a separate indictment in Brooklyn against a man for stealing $16 million from users via a phishing scheme.

(Source：The Block)