Coinbase expects to pay $180 million to $400 million relating to remediation costs and voluntary customer reimbursements related to this incident, which saw attackers gain access to users personal information. Coinbase received an email communication from the unknown threat actor on May 11, according to the firm. Attackers were able to access customers personal details, such as name, address, phone number, masked social security number, masked bank account numbers and other crucial details. They accessed those details by essentially bribing Coinbase’s overseas employees/contractors and subsequently demanding customer details to be sent. The exchange fired staff involved in the breach on the spot and referred to U.S. and international law enforcement. It will also press criminal charges. “Based on facts that continue to evolve, the Company has preliminarily estimated expenses to be within the range of approximately $180 million to $400 million relating to remediation costs and voluntary customer reimbursements relating to this Incident,” the exchange said in an SEC filing.

Full report : Coinbase Offers $20 Million Bounty as Criminals Steal Customer’s Personal Data From Exchange.