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Coinbase says its data breach affects at least 69,000 customers

1. 69,461 Coinbase customers' data stolen in a months-long breach. 2. Breach occurred from December 2024 until May 2025. 3. Hacker demanded $20 million ransom but Coinbase refused to pay. 4. Stolen data includes personal details and financial information. 5. Concerns rise over targeting of wealthier customers.

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FAQ

Why Very Bearish?

Data breaches can lead to loss of customer trust and regulatory scrutiny, reminiscent of past incidents that affected companies like Equifax, causing stock price drops.

How important is it?

Customer data breaches directly impact Coinbase's reputation and user trust, affecting financial performance.

Why Short Term?

Immediate concerns over security and trust may result in swift market reactions, similar to previous breaches.

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