Tag: governance

Coinbase faces renewed scrutiny after a coinbase data breach in which hackers bribed offshore support contractors, siphoned customer data and demanded a $20 million bitcoin ransom, an extortion the exchange refused to pay. The disclosure on 15 May could cost up to $400 million and reignites doubts over Coinbase’s sprawling outsourced security model.

U.S. prosecutors have asked Judge Amy Berman Jackson to sentence 25-year-old Eric Council Jr. to two years in prison for the January 2024 SIM-swap attack that let him seize the Securities and Exchange Commission’s X account and publish a bogus approval of spot-Bitcoin ETFs, briefly jolting markets.

Decentralised finance prides itself on tamper-proof code, yet the past two days underlined how exposed its Web2 skin remains.