Industry News: ESG5

The Target:​ Crypto giant Coinbase

The Take: The company said the hacker stole customer names, postal and email addresses, phone numbers, and the last four-digits of users’ Social Security numbers. The hacker also took masked bank account numbers and some banking identifiers, as well as customers’ government-issued identity documents, such as driver’s licenses and passports.

The Vector: Coinbase said the hacker “obtained this information by paying multiple contractors or employees working in support roles outside the United States to collect information from internal Coinbase systems to which they had access in order to perform their job responsibilities.”

This breach is a stark reminder of how strong authentication controls are in an overall robust cybersecurity posture, and that good password hygiene plays a pivotal role in protection.

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