Coinbase Data Breach: Brian Armstrong Offers $20 Million Bounty for Intel on Attackers

• Brian Armstrong responds firmly to Coinbase attackers.
• Armstrong rejected the attackers’ bargain and reassured users.
• Coinbase placed a $20 million bounty for intel to track the attackers.

Coinbase CEO Brian Armstrong has publicly responded to cyber attackers who attempted to blackmail the cryptocurrency exchange and extort it of $20 million. 

Armstrong’s latest post on X has a 2-minute 44-second video of him rejecting the attackers’ bargain and offering an equivalent reward to anyone with information leading to their arrest and conviction.

Attackers Demanded Bitcoin Ransom After Limited Data Breach

According to Armstrong, the attackers sent Coinbase an email demanding a $20 million ransom in Bitcoin. They claimed paying the ransom would be the only way to stop them from releasing users’ information they had illegally obtained. 

Highlighting Coinbase’s model of transparent operation, Armstrong addressed the issue publicly, emphasizing the crypto exchange’s decision not to pay ransom. The Coinbase CEO outlined the company’s proactive ap…

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