Ex-Coinbase Contractor Arrested in India Over $20M Ransom Hack
An ex-Coinbase contractor has been arrested in India in connection with a May security breach that culminated in a reported $20 million ransom demand. CEO Brian Armstrong confirmed the arrest, saying the investigation focuses on allegations that hackers bribed customer support staff to obtain confidential user data. Details on formal charges or the individual’s identity have not been fully disclosed.
The case underscores persistent insider-risk and social-engineering vulnerabilities within centralized exchanges and could prompt increased regulatory scrutiny and calls for tighter controls on contractor access. Affected users face heightened privacy and scam risks while authorities in India — and potentially abroad — continue investigations. Market observers will be watching Coinbase’s remediation steps and any legal repercussions as the incident unfolds.