Coinbase Offers $20 Million Bounty To Catch Data Thieves After Extortion Attempt

Cryptocurrency exchange Coinbase said Thursday it is offering a $20 million reward for information leading to the arrest and conviction of criminals who attempted to extort the company for the same amount after stealing customer data.

The criminals bribed customer support agents in overseas markets to access records containing addresses, phone numbers, government IDs, and partial bank and Social Security details of more than 80,000 customers. 'It sucks but when we see a problem like this we want to own it and make it right,' Coinbase Chief Security Officer Philip Martin told Fortune.

The company will reimburse customers who fell victim to subsequent social engineering scams. No login credentials or wallet access were compromised in the breach. The extortionists had threatened to publish the stolen information unless paid $20 million in Bitcoin.

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