Coinbase Global Inc. CEO Brian Armstrong announced the arrest of a former customer service agent in India. The arrest is connected to a security breach that occurred in May 2025.
Armstrong stated on the social media platform X that the company maintains "zero tolerance for bad behavior." Coinbase will continue collaborating with law enforcement to pursue legal action against those involved.
The May incident involved hackers who bribed employees or contractors. This action allowed unauthorized access to sensitive customer data.
Coinbase, the largest crypto exchange in the US, estimated the cost to remedy the situation. At the time of the breach, the company projected costs could reach $400 million.