Altcoins News

Story: Hacker Behind Coinbase Breach Converts $42.5M BTC to ETH and Mocks Investigators

By Sakamoto Nashi

1 / 15

Hacker Swaps Millions and Sends a Mocking On-Chain Message. According to blockchain sleuth ZachXBT, the hacker behind the Coinbase breach carried out a…

2 / 15

Breach Details: Bribed Agent and 97,000 Compromised Accounts. Coinbase first acknowledged the incident last week, revealing that the breach stemmed from a…

3 / 15

$20M Ransom Demand Rejected. After securing the data, the attacker reportedly demanded a $20 million ransom from Coinbase in…

4 / 15

DOJ Starts Investigation, Insider Risk in Focus. In response to the breach, the U.S. Department of Justice (DOJ) has starts a formal probe into…

5 / 15

$400 Million in Potential Costs. While no direct customer losses have been reported, Coinbase has warned that the total financial…

6 / 15

Industry Implications: Social Engineering a Persistent Threat. This breach highlights a growing vulnerability within the cryptocurrency sector: social…

7 / 15

What’s Next?. With federal authorities involved and the on-chain community tracking every move, the hacker’s…

8 / 15

The recent Coinbase data breach has taken a dramatic turn as the attacker behind the hack moved $42.

9 / 15

According to blockchain sleuth ZachXBT, the hacker behind the Coinbase breach carried out a substantial swap on Thorchain, converting approximately $42.5 million in BTC to ETH.

10 / 15

Fortunately, Coinbase clarified that no passwords, private keys, or wallet access credentials were compromised.

11 / 15

After securing the data, the attacker reportedly demanded a $20 million ransom from Coinbase in exchange for not leaking or selling the stolen user information.

12 / 15

The attacker’s subsequent actions — including the $42.5M BTC-to-ETH swap and the sale of 8,698 ETH for $22.12 million in DAI — were tracked in real time by blockchain analysts.

13 / 15

In response to the breach, the U.S. Department of Justice (DOJ) has starts a formal probe into Coinbase’s internal controls and hiring practices.

14 / 15

Coinbase has since confirmed that 69,461 users had their data compromised. The remaining users were notified as a precautionary measure.

15 / 15

Real-time transaction monitoring for suspicious activity

The Currency Analytics

Want the full story?