- The U.S. Department of Justice is investigating a cyberattack on Coinbase that may result in losses between $180 million and $400 million.
- The attackers accessed customer names, addresses, and emails, but did not obtain login credentials or passwords.
The U.S. Department of Justice (DOJ) has launched an investigation into a recent cyberattack targeting Coinbase Global Inc. (COIN.O), the largest cryptocurrency exchange in the world.
The company confirmed the development on Monday, stating that it cooperates with U.S. and international law enforcement agencies.
"We have notified and are working with the DOJ and other US and international law enforcement agencies and welcome law enforcement's pursuit of criminal charges against these bad actors," said Paul Grewal, Chief Legal Officer at Coinbase.
A source familiar with the matter clarified that Coinbase is not under investigation.
"Coinbase is not under DOJ investigation, DOJ is investigating the criminal actors," the source noted.
Coinbase revealed that on May 11, it received an email from an unidentified threat actor. The attacker claimed to possess sensitive information related to certain customer accounts and internal documents.
Although the hackers managed to access names, addresses, and email addresses, Coinbase confirmed that login credentials and passwords were not compromised.
The breach could have significant financial repercussions, with the company estimating potential losses ranging from $180 million to $400 million. The DOJ has yet to issue a public statement regarding the probe.
This incident adds to a growing list of cybersecurity concerns in the crypto sector, raising fresh questions about data protection and digital infrastructure resilience within major exchanges.
Edited by Annette George
