Coinbase CEO Thanks Hyderabad Police After Ex‑Support Agent Arrested in $20M Hack Probe
Brian Armstrong says Coinbase has “zero tolerance for bad behavior” after Hyderabad Police arrested a former Coinbase customer‑service contractor accused of leaking sensitive user data to hackers. The arrest is tied to a May 2025 incident in which cybercriminals bribed overseas support agents for customer information, then demanded a $20 million ransom—a breach Coinbase estimates could cost up to $400 million to fully remediate. Investigations and additional arrests are ongoing as Coinbase cooperates with US and Indian law‑enforcement agencies and offers a reward fund for information leading to the masterminds behind the extortion scheme.