The Chief of Global TRM Labs policy, a blockchain analysis firm that helps the application of the law to investigate cryptographic fraud, shared that he believes that coinbase management of the last trick is a “great example for other companies in terms of how to handle” that deal with exchanges tricks.
In a 2025 consensus panel, Ari Redbord discussed how easy it is that hacks happen in encryption exchanges, since the industry is “the perfect storm of weak cyber controls and, ultimately, it is a good goal.”
Coinbase shared Thursday that part of his staff had been bribed to steal the data of his clients, and its founder Brian Armstrong had received a Ransome note for $ 20 million in Bitcoin.
The team shared in a blog post that due to rape, could pay up to $ 400 million in remediation costs to affected customers, and were establishing a $ 20 million reward in any information related to attackers.
The news occurs when the industry has experienced other important tricks, such as Bybit, which was pirated earlier this year for $ 1.5 billion, and the deceased Crypto Exchange FTX in November 2022 for $ 400 million.
Although these episodes seem to happen frequently, Redbord believes that greater regulatory participation can relieve some of these problems. “There are many things that we can do with governments to persecute these bad actors who have nothing to do with cryptography or intelligence of blockchain,” he said. “We have cybernetic facilities.”
Read more: Coinbase could pay customers up to $ 400 million for data violation
