Coinbase breach linked to customer data leak in India – report

Cryptocurrency exchange Coinbase ( NASDAQ: COIN ) was aware as early as January of a customer data leak at an outsourcing firm tied to a broader security breach that could cost up to $400 million, according to six sources familiar with the matter who spoke to Reuters. At least one part of the breach, publicly disclosed in a May 14 SEC filing, occurred when an India-based employee of the U.S. outsourcing firm TaskUs ( NASDAQ: TASK ) was caught taking photographs of her work computer with her personal phone, according to five former TaskUs employees, the report said. The ex-employees said they were briefed on the matter by company investigators or colleagues who witnessed the incident in the Indian city of Indore, noting that the woman and a suspected accomplice were alleged to have been feeding Coinbase ( COIN ) customer information to hackers in return for bribes. The ex-employees and person familiar with the matter said more than 200 TaskUs ( TASK ) employees were soon fired in a mass layoff that drew Indian media attention. Coinbase had previously blamed “support agents overseas” for the breach, which it estimated could cost up to $400 million. Coinbase Global’s ( COIN ) recent data breach had compromised 69,461 of the crypto exchange’s users, according to a complaint filed with the Main Attorney General’s office. About 217 of that total were Maine residents. More on Coinbase, TaskUs Coinbase: The Winner Of Bitcoin’s Institutional Adoption (Initiate With Buy) An Update On Coinbase’s Q1 2025 Earnings (Rating Upgrade) Coinbase: Now Could Be A Great Time To Buy And Hold Biggest stock movers Wednesday: ANF, OKTA, BOX, crypto stocks, and more Top global stories this week: Vodafone, Xiaomi and XPeng among notable names

Source: Seeking Alpha