Coinbase Global Inc. (NASDAQ:COIN) confirmed Monday that the Department of Justice has launched an investigation into the recent cybersecurity breach at the cryptocurrency exchange.
What Happened: Coinbase’s Chief Legal Officer, Paul Grewal, acknowledged the DOJ’s involvement in the case via an X post.
“Uh, we told the authorities about the incident. We are not the subject of the investigation into the incident. Just sayin’— if facts matter,” Grewal said, emphasizing that the DOJ was not probing Coinbase but the criminal actors behind the breach.
The DOJ didn’t immediately return Benzinga’s request to confirm this development.
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The cryptocurrency behemoth disclosed last week that it had received an email from an unidentified threat actor claiming to have information about certain customer accounts and internal documents.
The attackers managed to steal some data, including names, addresses, and emails. However, they failed to gain access to login credentials or passwords. The company anticipated the cyberattack to cost between $180 million and $400 million.
Coinbase has refused to pay ransom, instead placing a $20 million bounty for information leading to the attackers.
Price Action: Shares of Coinbase were up 0.29% in after-hours trading after closing 0.95% lower at $263.94 during Monday’s regular trading session, according to data from Benzinga Pro. Year-to-date, the stock has gained over 6%
As of this writing, the stock ranked sufficiently high on growth, a measure of a stock’s combined historical expansion in earnings and revenue across multiple periods. To view stocks with growth scores exceeding 90, head to Benzinga Edge Stock Rankings.
Photo Courtesy: Primakov on Shutterstock.com
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