Coinbase’s Comedy of Errors: Security Breach, Silent Treatment, and Scam Shenanigans!
Coinbase extorted for $20M, bribed support staff, and left customers scammed in a colossal SNAFU. Security researcher Jonathan Clark reported the breach in January, but Coinbase stayed mum until May. Apparently, they were more committed to ghosting than ghostbusters.
Hot Take:
Coinbase seems to have taken the “if you can’t see it, it doesn’t exist” approach to cybersecurity. It’s like they watched a horror movie, saw the monster in the basement, and decided to just lock the door and hope for the best. Spoiler alert: the monster is still there, and it has your Social Security number!
Key Points:
- Security researcher Jonathan Clark claims Coinbase knew about a major data breach months before disclosing it.
- Clark reported the breach in January 2025, but Coinbase only went public in May 2025.
- Scammers accessed personal data of nearly 70,000 customers, using it to attempt cons and extortion.
- Coinbase insiders were allegedly bribed to hand over sensitive customer data.
- Despite follow-ups, Coinbase failed to respond adequately to Clark’s warnings.
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