Coinbase rejected a $20 million ransom demand from attackers who leaked user data through an insider phishing scheme. The attack affected less than 1% of Coinbase’s monthly transacting users but could cost the exchange between $180 million and $400 million in reimbursement and remediation efforts. Coinbase confirmed that no sensitive information like passwords or private keys were compromised. In another development, Huione Guarantee, a major Chinese darknet marketplace, announced its closure after its Telegram accounts were banned, significantly impacting its operations. Telegram stated that it removes communities involved in illegal activities like scams and money laundering. Additionally, Summer Mersinger, a commissioner at the US Commodity Futures Trading Commission (CFTC), will become the next CEO of the Blockchain Association, following Kristin Smith's resignation. Mersinger's departure opens up a potential nomination for a new commissioner in the regulatory body, as laws limit the number of commissioners from the same political party.

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