Coinbase (Coin) hopes to pay $ 180 million to $ 400 million to customers for the violation of data on their platform.
The violation occurred on May 11, according to the company. The bad actors were able to access the personal data of the customers, such as name, address, telephone number and masked social security number.
“According to the facts that continue to evolve, the company has the estimated expenses preliminary to be within the range of approximately $ 180 million to $ 400 million related to remediation costs and voluntary reimbursements of customers related to this incident,” the exchange in a presentation in the SEC said.
Crypto’s Exchange said in a blog post that “will reimburse customers who were deceived to send funds to the attacker.” He has also offered a $ 20 million errors reward for anyone who provides information that leads to an arrest.
Confirmation of cyber criminal activity occurs three months after the ZachxbT chain detective said that Coinbase users had lost $ 300 million due to social engineering scams.
Coinbase also said that criminals secured government identification images, account balances and corporate data. He added that two factors’ authentication codes and private keys were not violated.
The exchange dismissed the personnel involved in the violation on the spot and referred to the US and international police. It will also press criminal charges.
Coinbase did not immediately respond to the request for Comments from Coindesk with respect to the claim of $ 300 million from Zachxbt.
Update (May 15, 12:48 UTC): Update the title, add details about the violation.
