Coinbase announced that Indian police have arrested a former customer support employee related to a major data leak, affecting nearly 70,000 users.

🔷 Coinbase CEO Brian Armstrong confirmed that a former customer support employee in Hyderabad (India) was arrested in connection with the data breach disclosed in May.

🔷 The incident began in December 2024, when cybercriminals bribed customer support staff abroad to obtain user data such as names, addresses, phone numbers, and identification documents.

🔷 69,461 users were affected, according to Coinbase's filing with the Maine Attorney General's Office (USA).

🔷 Hackers demanded a ransom of 20 million USD, but Coinbase refused and offered a reward in exchange for information leading to the arrest of the perpetrators.

🔷 Fortune's investigation shows that some employees of TaskUs (a Texas-based outsourcing company) were involved in organized crime campaigns, not only targeting Coinbase.

🔷 Coinbase recorded $307 million in expenses related to the leak in its Q2 financial report, including incident remediation and customer compensation.

🔷 The company is currently facing a class-action lawsuit from shareholders, alleging delayed disclosure of the security breach.