See every side of every news story
Published loading...Updated

Coinbase Is Being Extorted. What Does That Mean for Its Stock?

  • On May 15, 2025, Coinbase disclosed a cyberattack targeted a small subset of customers via compromised overseas support agents.
  • Hackers bribed a few customer support workers for access and sought a $20 million ransom to conceal the breach.
  • The stolen data affected less than 1% of monthly users, excluded login credentials, and Coinbase is hardening support systems and reshoring operations.
  • Coinbase expects costs between $180 million and $400 million for remediation and restitution, and CEO Brian Armstrong offered a $20 million reward for the hackers’ capture.
  • Shares slid more than 6% but Coinbase’s strong financials and pending S&P 500 addition may mitigate long-term market impact.
Insights by Ground AI
Does this summary seem wrong?
Podcasts & Opinions

14 Articles

All
Left
1
Center
2
Right
2
Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/yearSubscribe

Bias Distribution

  • 40% of the sources are Center, 40% of the sources lean Right
40% Right
Factuality

To view factuality data please Upgrade to Premium

Ownership

To view ownership data please Upgrade to Vantage

Quartz broke the news in United States on Thursday, May 15, 2025.
Sources are mostly out of (0)