Scope and Consequences of the Breach

[cryptoenthusiast]

The stolen data enabled criminals to impersonate Coinbase staff, convincing victims to transfer crypto to fraudulent wallets.

Reports suggest losses reached $400 million.

TaskUs discovered the breach in January 2025 and fired roughly 300 employees but delayed public disclosure until May.

Many victims lost life savings or retirement funds, sparking widespread criticism and investor lawsuits following Coinbase’s stock drop.