A recent filing with the Attorney General of Maine has given a new light on Coinbase data violations, claiming that nearly 70,000 users have been affected and that the incident has not been detected for almost six months.
According to File Submitted by legal firm Latham and Watkins LLP, 69,461 Coinbase users were compromised in violation, 217 to US Maine state residents.
The document also indicates that the violation occurred on December 26, 2024, but was discovered only on May 11, 2025 – nearly six months following the cybersecurity incident.
Coinbase now Facing a fuzzy suits From the affected clients, arguing that the exchange failed to inform victims of security violations in a timely manner. The attack caused $ 400 million in losses through social engineering scams and remediation costs, Coinbase said.
Cointelegraph contacted the Coinbase for the comment, but did not receive a response at the time of publication.
Breaking the data is sparking Debate About the ethics of identifying your customer (KYC) data collection, which some argue increases risks to crypto holders. The incident also reflects the increasing number of cybersecurity incidents covering the industry.
Related: Coinbase faces a lawsuit for alleged violations of biometric law in Illinois privacy
Breaking Coinbase data sends shockwaves through the crypto world
Coinbase became the target of a ransom attempt after scammers convince several Coinbase customer service representatives Restore the user’s limited informationIncludes client names, contact information, and physical addresses.
Scammers have tried to eliminate the company paying a ransom of $ 20 million in exchange for failing data. However, Coinbase declined to arrange for the threat actors.
The crypto exchange fired contractors working with scammers to provide user data and also promise remediation or reimbursement for any affected clients.
https://www.youtube.com/watch?v=T06MVWZ6NGM
Despite remediation efforts, Coinbase Slid sharing of 7% Following the news of the data violation and the subsequent attempt of oppression.
Reports later revealed that Roelof Botha, a partner in Venture Capital Firm Sequoia Capital, was also a victim of data leakageIt suggests that the incident affects other individuals or creatures tied to the VC firm.
The Department of Justice of the United States (DOJ) opened a leak investigation;;;;;;;;;;;;;;;;;;;;;;; This has not been published updates on the incident or the oppression attempt on May 21.
Industry, investors, and legal experts have warned that such data is leaking Threat the physical safety of crypto investors By making them targets of oppression, kidnapping, and armed robbery attempts.
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