In May 2025, Coinbase disclosed a significant data breach involving bribed overseas contractors who accessed sensitive customer information, including names, emails, ID images, and partial Social Security numbers. Although no passwords or funds were compromised, the attackers used the data for phishing scams, impersonating Coinbase to deceive users into transferring cryptocurrency. Coinbase refused a $20 million ransom demand and instead offered a $20 million reward for information leading to the perpetrators' arrest. The breach is expected to cost the company between $180 million and $400 million in remediation and reimbursements. Following the announcement, Coinbase's stock dropped over 7%.