Coinbase, the largest crypto exchange in the United States, has revealed that a recent cybersecurity breach affecting some of its users may cost the company between $180 million and $400 million. The estimated loss doesn’t include the $20 million ransom demand made by the attackers, which Coinbase firmly declined to pay.

In total, crypto platforms suffered around $2.2 billion in losses from hacking in 2024, marking the fourth consecutive year in which attacks exceeded the $1 billion mark, according to Chainalysis. Industry actors like Riot Platforms Inc. (NASDAQ: RIOT) may be refining their cybersecurity systems in order to minimize…

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