Coinbase, one of the world’s largest cryptocurrency exchanges, claims a recent cyberattack will cost them up to $400 million (£301 million).
The company said it was approached by hackers who claimed to have stolen client information through payments to Coinbase contractors and employees.
In a blog post, Coinbase stated that the crooks acquired access to “less than 1%” of its client data, which they then exploited to mimic the company and deceive consumers into turning up their cryptocurrency.
The group then wanted $20 million from Coinbase to stay silent, but it refused to pay the bribe and instead offered to reimburse everyone who had been duped. The announcement caused the firm’s share price to decline by 4.1%.
