Coinbase Chief Executive Officer Brian Armstrong announced in a social media post on May 15, 2025, that criminals had improperly obtained personal data on the exchange's customers for use in crypto-stealing scams and were demanding a $20 million payment not to publicly release the information. Armstrong said that criminals had obtained the data by bribing Coinbase customer service agents.
Following this news, Coinbase's stock price fell sharply during intraday trading on the same day.
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