Brian Armstrong, the CEO of Coinbase, Americas largest cryptocurrency exchange, publicly expressed his gratitude to the Hyderabad Police after they arrested a former Coinbase customer support agent in India. The individual was linked to a major data breach and cyberattack targeting the exchange earlier in 2025.
The incident involved hackers bribing support staff to access sensitive customer information. Although no user passwords or funds were stolen, the exposed data led to phishing and extortion attempts, including a reported twenty million dollar ransom demand. Coinbase estimated that remediation and security measures related to the breach could cost up to four hundred million dollars.
Armstrong took to social media to thank the Hyderabad Police for their swift action. He emphasized that Coinbase has zero tolerance for malicious behavior and highlighted the importance of international cooperation in combating cybercrime and insider threats.
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