mythsthe peopleCoinbase2025crypto exchange / united states

everyone assumed:

support agents can see customer data, but they can't take it anywhere

what was actually true:

Anything a support agent can see, someone can pay them to photograph.

how it happened

  1. whocriminal grouppaid support staff abroad
  2. the gapsupport agentscontractors and employees, per Coinbase
  3. thencustomer recordsIDs, balances, partial SSNs
  4. the result$20M ransom demandrefused; costs estimated at $180M to $400M
the gap that let it happen the result

what everyone assumed

Support needs to see customer accounts. That is the job: answer questions, check a transaction, confirm an identity. The agents work inside internal tools, with no way to export the database, and the tools log what they open. Customer data stays inside the company’s systems while support looks at it.

what happened

In a filing with the US Securities and Exchange Commission on 15 May 2025, Coinbase said a threat actor had paid multiple contractors or employees working in support roles outside the United States to collect information from internal Coinbase systems they had access to in order to perform their jobs. Coinbase said its security monitoring had detected that access, without a business need, in the previous months, and that the people involved had been terminated.

On 11 May 2025 the group emailed Coinbase demanding $20 million in exchange for not publishing the data. According to the filing, it included names, addresses, phone numbers and email addresses, the last four digits of social security numbers, masked bank account numbers, images of government ID such as passports and driving licences, account balances and transaction history. Coinbase said passwords, private keys and customer funds were not exposed. The company told the Maine attorney general that 69,461 people were affected, according to TechCrunch.

Reuters reported in June 2025, citing five former employees of the outsourcing firm TaskUs, that a TaskUs agent in Indore, India, had been caught photographing her screen with a personal phone, and that Coinbase had known of the leak since January 2025. In a class action, plaintiffs allege that she kept data on more than 10,000 customers on her phone and was paid $200 per photo, according to Fortune. These are allegations. In late December 2025 Coinbase’s chief executive announced the arrest of a former support agent in Hyderabad.

step by step

  1. support agents outside the US look up customer accounts all dayTheir tools show identity documents, balances and transaction history.
  2. a criminal group pays some of them for what they can seePer Coinbase, the agents collected records from systems they could reach for their job.the assumption breaks here
  3. monitoring flags lookups with no business reasonIn the months before May 2025, per Coinbase; the agents are fired.
  4. 11 May 2025an email demands $20 millionCoinbase refuses, discloses on 15 May and offers a $20 million reward instead.

how it surfaced

Coinbase’s own monitoring found the lookups first, months before the extortion email, and the company fired the agents involved. The ransom email in May is what made it public. Coinbase refused to pay, offered a $20 million reward for information leading to the attackers, and promised to reimburse customers tricked into sending funds by people using the stolen data.

In its 8-K Coinbase estimated the cost of remediation and reimbursements at between $180 million and $400 million. Its shareholder letter for the second quarter of 2025 reported costs of about $307 million linked to the incident.

Anything a support agent can see, someone can pay them to photograph.

Monitoring caught the lookups, and the photos had already been taken. The deciding question was how much each agent could see on one screen.

picture it at a company like yours

The company here is made up. The other two paths are not: they happened, and each links to the story.

your company
a normal dayA small team, in-house or outsourced, answers customer questions using an admin view of each account.
the gap nobody seesThat view shows everything about a customer, because it is easier than deciding what each question needs.a support screen that shows everything
  1. in this story
    the day it mattersSomeone offers one agent a little money per screenshot of customer records.
    what it costs youYour customers start getting calls from people who know their details, using your name.
  2. or it goes like this
    howCallers posing as IT get staff to sign in on a fake page, then use the internal account tool.
    what leavescontrol of customers' accountswho ends up with itattackers running a scam in your name
    it happenedTwitter, 2020
  3. or it goes like this
    howAn outside support team's access to your ticketing system is used by someone else.
    what leavesyears of attachments customers sent to supportwho ends up with itan extortion group
    it happenedDiscord, 2025

sources

  1. Coinbase Global, Inc.: Form 8-K, Item 1.05 material cybersecurity incident (filed 15 May 2025)
  2. Coinbase: Q2 2025 shareholder letter
  3. TechCrunch: Coinbase says its data breach affects at least 69,000 customers (21 May 2025)
  4. Claims Journal (Reuters): Sources say Coinbase breach linked to customer data leak in India (3 June 2025)
  5. Fortune: Suspect in Coinbase hack kept data for more than 10,000 customers on her phone, court filing alleges (16 September 2025)
  6. The Block: Coinbase CEO announces first arrest in India over insider data breach

← all myths

your turn

what you can do about it

  1. this week

    Open your support tool as a support agent and write down everything one customer page shows.

    Most admin views were built to answer every possible question, so they show every field. Mark what an agent needs for the common tickets, and ask your vendor or your developer whether the rest can be hidden until someone asks for it. Coinbase's agents could see ID documents and balances in the course of their normal work.

  2. go deeper

  3. if you're not sure where to start

    Run the offboarding checklist on one leaver. It covers every account and token to close when someone leaves.

    open the checklist →

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