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Coinbase CEO Brian Armstrong confirmed a data breach on Thursday, attributing it to rogue overseas support agents recruited by cyber criminals. According to Armstrong, the attackers contacted Coinbase claiming to possess the personal data of some users and demanded a $20 million ransom to prevent its release. This incident occurred shortly after Coinbase became the first crypto firm. The company is likely investigating how the attackers managed to recruit the support agents and gain access to sensitive user information. The breach raises significant security concerns about outsourcing customer support and the potential vulnerabilities it creates within cryptocurrency exchanges.
