Coinbase confirms DOJ is investigating cybercriminals behind its recent breach, not the company itself. The attack may cost the exchange up to $400 million.
The U.S. Department of Justice has opened an investigation into a recent cyberattack targeting Coinbase Global, the world’s largest cryptocurrency exchange, the company confirmed on Monday.
According to Paul Grewal, Coinbase’s Chief Legal Officer, the company is cooperating fully with law enforcement. “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,” Grewal said in a statement.
A source close to the situation clarified to Reuters that Coinbase itself is not under investigation — the DOJ is focusing on the individuals responsible for the breach.
What Happened in the Attack?
The breach came to light when Coinbase received an email on May 11 from an unknown threat actor, claiming to possess internal company documents and details about some customer accounts. The company says the attackers managed to steal certain user data — including names, addresses, and email addresses — but did not obtain login credentials or passwords.
Coinbase is bracing for a financial impact between $180 million and $400 million as a result of the cyberattack.
As the DOJ digs deeper into the incident, Coinbase continues to stress that it’s working closely with authorities to hold those responsible accountable — and that its platform, while affected, is not under direct scrutiny.
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