Coinbase resists $20 million Bitcoin ransom demand after insider-led data breach

Coinbase reported a data breach affecting less than 1% of users, with hackers extorting $20 million in Bitcoin. Insiders leaked sensitive data enabling social engineering scams. User credentials and core infrastructure remained secure. Coinbase terminated compromised employees and is working with law enforcement. The company will compensate affected users and establish a $20 million reward fund. ZachXBT suggested a connection to previous attacks, estimating $300 million in losses yearly. Wintermute CEO blamed regulatory frameworks for enabling such attacks.