Coinbase has reportedly refused to pay a $20 million ransom following a data breach linked to phishing schemes, which could cost the company between $180 million and $400 million in remediation. The breach involved contracted customer support agents in India who allegedly leaked user data to scammers. Coinbase's Chief Security Officer stated that some of these agents facilitated access to customer data, raising concerns about their recruitment practices. In total, less than 1% of the monthly transacting users' data was affected, and Coinbase affirmed that no funds or sensitive account information were compromised. In the wake of the incident, Coinbase has fired the implicated contractors and is set to reimburse affected users. Meanwhile, the Chinese darknet marketplace Haowang Guarantee has ceased operations after Telegram banned thousands of its associated accounts, indicating a significant crackdown on crypto-related cybercrime.

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