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COIN
CNBC
96 days

Coinbase says hackers bribed staff to steal customer data and are demanding $20 million ransom

1. Coinbase faces potential $400 million cost from a recent data breach. 2. Cyber criminals bribed support agents, compromising sensitive customer data. 3. Customer funds remained safe; no passwords or private keys were exposed. 4. Coinbase is cooperating with law enforcement and has initiated a reward fund. 5. Company aims for significant global expansion and entry into S&P 500 index.

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FAQ

Why Bearish?

The breach and potential costs could dampen investor confidence, similar to other high-profile breaches in tech companies that negatively impacted stock prices temporarily.

How important is it?

The data breach is significant enough to impact investor perception and immediate stock performance, especially given the sensitive nature of data involved.

Why Short Term?

The immediate concern over customer trust and financial penalties may affect COIN’s price in the near term, though long-term ambitions may counterbalance this.

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