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Coinbase Will Reimburse Customers Up to $400 Million After Data Breach

Lily Hay Newman, Dhruv Mehrotra

created: May 17, 2025, 10:30 a.m. | updated: May 21, 2025, 5:02 a.m.

The acting director of the Consumer Financial Protection Bureau, Russell Vought, quietly eliminated a plan to more tightly regulate the sale of Americans’ sensitive personal data. CFPB had originally launched the initiative in response to increasingly far reaching and reckless behavior from data brokers. The attackers also contacted the company and attempted to extort the company for $20 million. Coinbase currently has about 9.7 million total users. The company said in an Securities and Exchange Commission breach disclosure notification that it expects that it will cost between $180 million and $400 million to remediate the breach and reimburse customers for stolen funds.

3 weeks ago: WIRED