welcome
CoinGape

CoinGape

Business

Business & Economics

Coinbase Stock Drops 7% Amid Cyberattack and SEC Probe

CoinGape
Summary
Nutrition label

63% Informative

The world’s largest publicly listed crypto exchange, Coinbase , has been rocked by a damaging cyberattack and continued investigation from its SEC lawsuit just days before its S&P 500 debut.

The company confirmed that hackers bribed staff, leaked customer data, and demanded $ 20 M ransom.

The back-to-back setbacks have taken a massive toll on the Coinbase stock price, as it dropped over 7% in one trading session on Thursday .