The global leader of the TRM Labs policy, a Blockchain Analytics company that helps enforce the law to investigate the crypto fraud, which he shared that Coinbase’s handling of the latest hack is a “really good example with other businesses in terms of how
In a panel in Consensus 2025, Ari Redbord discussed how easy the hack would happen in crypto exchanges, as the industry was “the perfect storm of weak cyber controls and eventually it was a great target.”
Coinbase shared earlier on Thursday that some of Its staff will bribe To steal their customers’ data, and its founder Brian Armstrong received a ransome note for $ 20 million dollars in Bitcoin.
Shared the team In a blog post Due to the violation, it can pay up to $ 400 million in remediation costs to affected customers, and that they set a $ 20 million huge amount on any information related to attacks instead.
The news came as the industry experienced other major hacks, such as bybit which is that -hack earlier this year for $ 1.5 billion, and Defunct Crypto Exchange FTX in November 2022 for $ 400 million.
Although these episodes seem to happen often, Redbord believes that more regulatory involvement can alleviate some of these issues. “There is a lot we can do for governments to follow evil actors who have nothing to do with crypto or blockchain intelligence,” he said. “We have cyber facilities.”
Read more: Coinbase can pay customers up to $ 400m for breaking the data
