Sequoia Partner’s Data Compromised in Coinbase Breach

The managing partner of Sequoia Capital, Roelof Botha, you have identified the victims of an important data at Coinbase Global Inc., the largest cryptocurrency exchange in the United States. The infringement, which hit around 97,000 users, included theft of personal information, including names, contact details, identification images issued by the government and account history.

Coinbase revealed that cyber criminals bribed overseas customer support agents to gain unauthorized access to sensitive user data. The attackers then demanded $ 20 million ransom to prevent the public account of the stolen information. Coinbase You have refused to pay the ransom and work together with law enforcement agencies to investigate the incident. The company has also terminated the supporting agents involved and announced plans to set up a new American support hub to improve security measures.

The infringement has expressed concern about the security of personal data in the cryptocurrency industry, in particular because Coinbase is preparing for recording numbers in the S&P 500 index. The shares of the company experienced a decrease of more than 7% after the disclosure of the infringement. Coinbase Estate could result the incident in costs that range from $ 180 million to $ 400 million, which includes the remediation efforts and potential customer fees.

Roelof Botha, a prominent figure in the venture capital community, you have been a partner at Sequoia Capital since 2003 and have a member of the councils of serious large technology companies. His admission The victims of the infringement underline the potential reach and the impact of the cyber attack.

Coinbase CEO Brian Armstrong has announced a reward of $ 20 million for information that leads to the arrest and conviction of the perpetrators. The company also works to strengthen its fraud prevention measures and has argued for users who are misled to send money to the attackers.