A data breach at Coinbase, one of the world’s largest cryptocurrency exchanges, was known to the company as early as January but was not disclosed to users until more than a month later, according to a report by Reuters.
Details of the Breach
- The breach is believed to have been carried out by hackers who gained access to an employee’s computer at TaskUs, a customer service firm that works with Coinbase.
- Hackers used this access point to steal sensitive information from Coinbase customers.
Indian Connection
- An Indian connection has been uncovered in the hack. A TaskUs employee based in India was caught taking pictures of her official computer screen while working from home.
- It remains unclear what she did with these images or how they were used in the hack.
Criticism of Coinbase
- Coinbase had prior knowledge of the breach but chose not to disclose it immediately. This decision has sparked criticism and raised questions about its commitment to user security and transparency.
- A Coinbase spokesperson stated, "We cannot comment on this matter," when asked about their knowledge of the breach.
User Concerns
- The delay in disclosure has raised concerns about whether users were adequately protected during this time. Rachel Tobac, CEO and founder of Social Proof Security Inc., expressed that users might have felt their personal data was safe while using a secure platform like Coinbase, only to discover vulnerabilities later.
- Tobac emphasized that if users had been informed earlier about potential risks, they could have taken necessary steps to protect themselves.
Company Response
In response to recent reports regarding unauthorized access to certain internal systems, Coinbase stated:
- They take these incidents very seriously and are taking immediate action to protect affected accounts and prevent further unauthorized activity.
- The company is working closely with law enforcement agencies to investigate the incident, determine the full extent of the impact, and identify individuals responsible for the illegal activities.
- Coinbase will continue to provide updates as more information becomes available and thanked users for their cooperation during this time.
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