Tag: Coinbase

Coinbase Faces New Lawsuit Over Alleged Data Breach Cover-Up

Coinbase Finds More Trouble as It’s Hit with Another Lawsuit

Coinbase can’t seem to catch a break.

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Investor Brady Nessler has filed a class action lawsuit against Coinbase Global Inc. (COIN) in the U.S. District Court for the Eastern District of Pennsylvania, claiming the exchange concealed key details about a $20 million extortion attempt tied to a data breach.

Hackers reportedly stole sensitive customer info—like names, addresses, and even identity documents—and then tried to extort Coinbase. Nessler’s lawsuit alleges the company knew about the breach and failed to notify shareholders properly.

“As a result of Defendants’ wrongful acts and omissions… Plaintiff and other Class members have suffered significant losses,” the lawsuit reads.

The class action seeks financial damages, legal fee reimbursement, and a jury trial, but they haven’t issued a public response yet.

This is not the first legal blow for the crypto giant. Earlier this month, Coinbase confirmed hackers bribed third-party contractors to access consumer data, triggering six lawsuits in the aftermath. The company now expects to shell out $180M–$400M in remediation and refunds.

The legal chaos is hitting COIN stock hard. As of the latest update, COIN is trading at $261.16, down 3.23% from the previous close.

Crypto Twitter is buzzing with debate, with some calling for stricter security standards in crypto platforms. As more lawsuits pile up, Coinbase is facing serious pressure to clean up its security—and fast.

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Hope ! Coinbase Turns the Tables with $20M Bounty After Insider Ransom Attempt

Coinbase Doesn’t Pay Up — They Pay Back

So here’s the plot twist: Coinbase just said no to a $20M ransom and turned the threat into a $20M bounty.

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The breach didn’t come from some elite hacker. Nope — it was rogue support agents overseas who took bribes to leak user data. Real inside job. The compromised info? Names, phone numbers, emails, and in some cases, ID photos. Passwords, private keys, and money? Untouched.

Even though less than 1% of users were affected, the damage was real. The scammers used the stolen data to try and extort Coinbase for $20 million in Bitcoin. Coinbase clapped back hard.

From Victim to Vigilante: The $20M Flip

Instead of caving, It fired the insiders, went public with everything, and is now offering a $20M bounty to anyone who helps track and convict the extortionists. CEO Brian Armstrong confirmed no funds were moved and It Prime accounts were never in danger.

The company also pledged to reimburse users scammed via phishing and is now making major security upgrades — like launching a U.S.-based support center and tightening internal access controls.

They’re also pushing users to be on high alert. If someone says they’re from Coinbase and asks for your password, seed phrase, or crypto — it’s a scam. Always.

In a space where silence is the norm, Coinbase’s transparency and counterstrike are rare — and refreshing.

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Breaking !Coinbase’s 1,000-Job Offer: A Fresh Start for DOGE Task Force Veterans

It’s giving career pivot vibes. After a Fox News clip of a former DOGE staffer venting about social backlash went viral, Coinbase CEO Brian Armstrong slid into X with a wild invite: join Coinbase’s fast lane hiring.

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DOGE (no, not the meme coin—this one’s a deregulation task force under Musk + Trump) has been in hot water for mass layoffs, failed $2T budget cuts (they only hit $160B), and making its own staff social pariahs.

The viral video showed Ethan Shaotran, a Harvard dropout, saying “most of the campus hates me now.” Armstrong responded:

“If you’ve done your proof-of-work at DOGE, come help build a better financial system at Coinbase.”

He even promised an accelerated hiring pipeline just for them. Major CEO move.

Meanwhile, Musk is catching flak from all directions—Tesla profits nosedived in Q1 2025 (-71%!), and some of his EV stuff got attacked IRL.

Moral of the story? Being part of Team Elon might not be the flex it used to be.

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Coinbase-Backed Web3 Security Platform Harpie Shuts Down—Here’s What Users Need to Do!

Harpie Calls It Quits

Harpie, the Web3 security powerhouse known for its real-time theft prevention, has officially shut down—effective immediately. The team cited an unsustainable business model as the reason behind the tough decision, leaving users scrambling for solutions.

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A Farewell Message to the Community

In an emotional farewell post on X (formerly Twitter), the Harpie team expressed gratitude to their users and the broader crypto space.

“We attempted to create a theft-free crypto ecosystem but unfortunately could not create a sustainable business model around it. We hope we inspired new companies to take the torch of solving this problem.”

While they may be shutting its doors, its vision for a safer Web3 could still influence future crypto security innovations.

What Users Need to Do Now

With services ending immediately, it has issued some critical steps for users:

  1. Fix Transaction Failures – If you’re experiencing transaction issues, disconnect your wallet from Harpie RPC using your wallet’s network switcher.
  2. Recover Vaulted Assets – It has promised a utility tool will be released soon to help users retrieve any locked assets.
  3. Stay Updated – The team will honor all outstanding giveaways from Harpie Season 1 and referral programs. Further updates will be shared via Discord.

Harpie’s Impact on Crypto Security

It wasn’t just another Web3 tool—it was a top-tier security platform backed by OpenSea and Coinbase. The platform provided real-time wallet monitoring and actively prevented crypto theft before it could happen.

Even though Harpie is gone, its legacy will live on, pushing the next wave of Web3 security solutions to evolve. The fight for a safer crypto space is far from over.

Final Thoughts

Harpie shutting down is a massive loss for the Web3 security space. But with crypto scams on the rise, the need for theft-proof solutions is bigger than ever. Whether new players step in to fill the gap remains to be seen.

For now, make sure you disconnect your wallet, recover your assets, and stay updated. The Web3 world never stops moving, and neither should you.

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5 Shocking Facts About the Coinbase Hack Attempt – A Massive Cyberattack Stopped Just in Time!

Coinbase

The Hacker’s Initial Moves

Before launching the attack, the hacker tested over 20 different code variations, looking for a way in. Once it detected and blocked their attempts, they pivoted to a new target—all versions of tj-actions/changed-files.

A Massive Threat to GitHub Repositories

The attack put 23,000+ repositories at risk, but security firm Unit 42 believes the real number could be even higher. Meanwhile, Wiz, another cybersecurity firm, investigated the attacker’s identity and found they are likely an active crypto community member based in Europe or Africa. Coinbase has yet to make an official statement, but experts confirm they stopped the attack before major damage occurred.

Shifting Targets: From Coinbase to GitHub Users

After failing to break into Coinbase, the attackers switched strategies and targeted a massive number of GitHub users instead. Security firm Endor Labs found at least 218 repositories had been compromised, leading to leaks of AWS, npm, Dockerhub, and GitHub access tokens—essentially login credentials for developer tools. Fortunately, most tokens expired quickly, reducing the impact.

Learn more about them on this website

How Coinbase’s Quick Response Limited the Damage

Endor Labs researcher Henrik Plate noted that the attack seemed intense at first, but its rapid response forced the hacker to adapt.

Could This Have Been Another ByBit-Scale Hack?

Yu Jian, founder of SlowMist, compared this attack to the ByBit hack in February 2025, where they stole $1.5 billion. He urged developers using GitHub tools like tj-actions to perform regular security audits to prevent future breaches.

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Coinbase CEO Cautions: Memecoins Could Lead to Legal Trouble

Coinbase CEO Brian Armstrong warns memecoin traders about legal risks, insider trading, and scams—saying chasing quick cash could land you in jail.

Brian Armstrong, CEO of Coinbase, just dropped a major reality check on the memecoin craze. He’s all for free markets, but he’s making it clear—there’s a fine line between hype and straight-up illegal moves, especially when it comes to insider trading.

Recently, memecoins linked to Donald Trump and Argentina’s President Javier Milei crashed hard, sparking controversy. Armstrong took to X (formerly Twitter) to say that while Coinbase lists what users want, people need to be smart. Just because Dogecoin blew up doesn’t mean every memecoin is a safe bet—some are straight-up scams.

He believes memecoins are just the beginning, predicting that everything—art, votes, contracts—will eventually be tokenized on-chain. But that doesn’t mean investors should blindly dive in. Coinbase, he says, will keep warning users about sketchy tokens.

His biggest warning? Insider trading in memecoins is illegal, and people caught trying to game the system will end up behind bars. Every crypto cycle, there’s a wave of people trying to get rich quick, but Armstrong’s advice is clear: Build something valuable, or risk learning the hard way.

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Virtuals Protocol Token Jumps 28%, Market Cap Hits $1.9B Milestone

Virtuals Protocol is going massively up on Coinbase’s Base blockchain, with its token $VIRTUAL up 161% this week, smashing a $1.9B market cap. It powers AI agents that do cool stuff like meme-making, music, and gaming on platforms like Roblox. Other tokens like $VADER also skyrocketed, hyping up the AI-driven future.

The Virtuals Protocol ecosystem is absolutely popping off right now. Built on Coinbase’s Base blockchain, it’s riding the wave of AI agent hype—think smart programs that can chat, post memes, make music, and even run Roblox games without breaking a sweat.

Here’s the tea: $VIRTUAL, the ecosystem’s native token, skyrocketed 29% in just 24 hours and is up a jaw-dropping 161% this week. Its market cap? A cool $1.9 billion, making it one of the top 100 cryptocurrencies. Trading at $1.38 after hitting its all-time high, $VIRTUAL is making serious waves.

Virtuals Protocol isn’t just about tokens; it’s a whole vibe. It’s a launchpad and marketplace for AI agents in gaming and entertainment, using blockchain tech to make AI ownership more accessible. Co-founded around 2021 (originally called PathDAO) and rebranded this year, it’s all about pushing boundaries in the AI game.

Other tokens in the Virtuals squad are thriving too. $VADER jumped 78.9% to $0.05, $AIXBT is up 23.8%, and $LUNA gained 9.4%. These tokens are more than doubling in value, showing investors are vibing hard with Virtuals Protocol’s AI-powered future.

Bottom line? Virtuals Protocol is turning AI into the next big thing, and the market can’t get enough.

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