Coinbase warns of up to $400 million hit from cyberattack, Internet blames KYC for it

Coinbase has forecast a financial impact of between $180 million and $400 million due to a cyberattack that compromised the account data of a “small subset” of its customers, according to a regulatory filing made Thursday, reports Reuters.

The company revealed that it received an email from an unknown threat actor on May 11, who claimed to possess sensitive data regarding certain user accounts and internal documents. While some personal information, such as names, addresses, and email addresses, was stolen, the hackers did not gain access to users’ login credentials or passwords. Coinbase also stated it would reimburse customers who were tricked into sending funds to the attackers.