Latest news with #CoinbasePrime
Yahoo
28-05-2025
- Business
- Yahoo
Saylor's MicroStrategy wallet addresses revealed despite his warnings
Strategy (Nasdaq: MSTR), formerly known as MicroStrategy, has had its closely guarded Bitcoin wallet addresses identified by Arkham Intelligence, a move that goes against what co-founder and Executive Chairman Michael Saylor has publicly warned against. Arkham posted on X, 'SAYLOR SAID HE WOULD NEVER REVEAL HIS ADDRESSES ... SO WE DID,' claiming they've identified an additional 70,816 BTC belonging to Strategy, bringing the total to $54.5 billion. This represents 87.5% of Strategy's total BTC holdings, including those under Fidelity Digital's omnibus custody. 'Previously, we tagged: – 107K BTC sent to MSTR Fidelity deposits (Fidelity does not segregate custody, so these BTC do not appear in the MSTR entity) – Over 327K BTC held in segregated custody including Coinbase Prime, in our MSTR entity,' Arkham added. Saylor, a vocal critic of on-chain proof-of-reserves, recently said, 'The current, conventional way to publish proof-of-reserves is an insecure proof of reserves... It's not a good idea, it's a bad idea.' He likened publishing wallet addresses to 'publishing the addresses, bank accounts, and phone numbers of your kids in the hope of their safety, but it actually makes them more vulnerable.' 'You publish your wallet, that's an attack vector for hackers, nation-state actors, every type of troll imaginable,' he warned, advocating instead for self-custody and verification by a Big Four auditor. Saylor's MicroStrategy wallet addresses revealed despite his warnings first appeared on TheStreet on May 28, 2025
Yahoo
28-05-2025
- Business
- Yahoo
Ethereum ETFs Outperforming in May
Ethereum ETFs have gained strong momentum in May and are outperforming the other major asset classes. This is primarily due to a surge in the world's second-largest cryptocurrency, driven by a combination of institutional investments, technological advancements and favorable regulatory crypto is currently trading above $2,600, having gained 38% this month. Grayscale Ethereum Mini Trust ETF ETH, Bitwise Ethereum ETF ETHW, VanEck Ethereum ETF ETHV, iShares Ethereum Trust ETF ETHA and Grayscale Ethereum Trust ETF ETHE all soared more than 50% in a month. The Ethereum upgrade, Pectra, which went live mid-month, marks a major milestone for the crypto. Ethereum spiked 20% alone in a day following the successful rollout of its much-anticipated 'Pectra' network upgrade. The upgrade introduces a suite of enhancements aimed at tackling persistent challenges in the Ethereum ecosystem, including high transaction fees, usability issues, and scalability constraints. It thus enhances Ethereum's scalability and reduces transaction costs (read: 5 ETFs to Ride the Bullish Wave of Ethereum's Pectra Upgrade). The easing of trade tensions with the U.S.-China and EU-US trade deal talks has sparked optimism in Ethereum. Institutional interest has increased, with significant purchases from large investors indicating growing confidence in Ethereum's value. Let us delve into the abovementioned ETFs in detail:Grayscale Ethereum Mini Trust ETF (ETH)With AUM of $1.2 billion, Grayscale Ethereum Mini Trust ETF seeks to reflect the value of Ether held by the Trust. It is the lowest-cost Ether ETF in the United States, charging investors 15 bps in annual fees. ETH trades in an average daily volume of 2 million shares (read: all the Digital Economy ETFs here).Bitwise Ethereum ETF (ETHW)Bitwise Ethereum ETF seeks to provide exposure to the value of Ether. It has amassed $230.8 million and charges 20 bps in annual fees. ETHW trades in an average daily volume of 347,000 shares. VanEck Ethereum ETF (ETHV)VanEck Ethereum ETF seeks to reflect the performance of the price of Ether. It has gathered $113.5 million in its asset base and trades in an average daily volume of 82,000 shares. From July 23, 2024, to July 22, 2025, the expense ratio has been waived on the first $1.5 billion of Trust assets. Assets above that amount will incur a 0.20% annual Ethereum Trust ETF (ETHA)iShares Ethereum Trust ETF seeks to generally reflect the performance of the price of ether. It is managed by the world's largest asset manager and leverages a multi-year technology integration developed with Coinbase Prime, the world's largest institutional digital asset custodian. ETHA has AUM of $3.2 billion and trades in an average daily volume of 12 million shares. It charges 25 bps in annual Ethereum Trust ETF (ETHE)Grayscale Ethereum Trust ETF seeks to reflect the value of Ether held by the Trust. It is the first spot Ether exchange-traded product to commence trading in the United States. ETHE has an expense ratio of 2.50%. It has gathered $2.8 billion in its asset base and trades in an average daily volume of 4 million shares. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
20-05-2025
- Business
- Business Insider
How to protect your crypto after the Coinbase hack
Coinbase was hacked on May 11, exposing sensitive personal data of around one million investors. Crypto traders should go the extra mile to enhance the security of their accounts. To protect your cryptocurrency, use cold storage, be wary of crypto scams, and never share your private keys. Is your cryptocurrency safe? Check again. Coinbase, one of the best crypto exchanges, was hacked on May 11, just days before its public debut on the S&P 500. Cybercriminals bribed overseas support agents for users' sensitive personal information, affecting around one million Coinbase investors. Hackers did not breach private keys, passwords, funds, or Coinbase Prime accounts. However, personal information such as names, addresses, government IDs, and the last four digitals of Social Security numbers was compromised. Although crypto trading platforms like Coinbase are responsible for protecting investors from fraudulent activity and hacks, you can take security into your own hands to further safeguard your investments. Here are the best practices crypto traders can take to protect themselves and their cryptocurrency following the Coinbase hack. Never share your private keys First rule of cryptocurrency trading: Never share your private keys. Private keys are a unique, random string of characters that provide access to your crypto holdings. You should be the sole owner of your private keys to prevent unauthorized selling or transferring of your cryptocurrency. Without your private keys, you may lose access to your crypto holdings. Use cold storage One of the best ways to shield your crypto from potential hacks and scammers is to use offline cold storage instead of a virtual hot wallet. While hot wallets can securely hold your crypto assets and private keys, they are connected to the internet and therefore susceptible to hackers. Instead, use a cold wallet, otherwise called a hardware wallet, which is a physical device not connected to the internet. Ledger and Trezor are two of the most popular cold wallets featured on our list of the best bitcoin wallets. A cold wallet typically requires its own key to access. If you lose that key, you risk permanently losing access to the crypto in your wallet. Be wary of crypto scams Cryptocurrency's decentralized nature, lack of regulations, and irreversible transactions make it a target for scammers. Due to the complexity of trading on the blockchain, inexperienced crypto traders are more easily tricked. Phishing scams are a common threat in the crypto world. Scammers attempt to impersonate exchange employees or another trusted source via phone, email, or text to trick you into revealing sensitive information like your private keys or passwords. If you suspect a potential phishing scam, contact your exchange to verify the request. Also, be wary of potential rug pulls or pump-and-dump schemes. In these schemes, scammers aggressively promote a new coin to attract investors, inflating its value only to abandon the project. By the end, investors are left with worthless tokens. Compare Today's Rates Only invest in what you understand Technically, anyone can create a cryptocurrency, but most fail to become the next bitcoin or ether. Some tokens generate an initial hype, only to plummet in value just as quickly. For that reason, it's crucial to read a crypto's white paper before buying. White papers lay out the purpose, technology, and road map behind the coin. Also, do your homework on the platform or crypto exchange itself, as not all exchanges are created equal. Some scammers even create fake websites or apps mimicking popular exchanges to steal private keys. Before opening an account with a random exchange, carefully review the platform's history, customer reviews, and the different security measures it has in place to protect your information. Monitor your account and report suspicious activity Make sure you regularly monitor your account activity to ensure all transactions are from you and no one else. If there is unauthorized activity on your account, you should: Lock your account on all devices Reset your password Contact the platform or exchange Set up transaction notifications to be alerted of suspicious activity in your account. In these circumstances, it's best to act as quickly as possible. Employ additional security measures Crypto transactions are irreversible, so it's very important to go the extra mile to protect your account with additional security measures such as: Two-factor authentication: 2FA provides an additional layer of security when you log in, requiring two forms of identification. Strong password: Avoid using our name or reusing the same password on different accounts. Strong passwords are long, typically 12 to 14 characters, and include numbers, symbols, and upper and lowercase letters. Keep software up to date: Make sure to regularly update your trading software and crypto wallet for access to the latest security updates and software patches. Don't know where to start? Consider a financial advisor. Finding a financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to three fiduciary financial advisors who serve your area in minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. Start your search now.
USA Today
20-05-2025
- Business
- USA Today
Hackers bribed overseas Coinbase agents for customer information. How to protect yourself.
Hackers bribed overseas Coinbase agents for customer information. How to protect yourself. Show Caption Hide Caption Bitcoin, Ethereum, Dogecoin: What to know before investing in crypto From Dogecoin to Bitcoin to Coinbase, cryptocurrency is the hottest trend in investing right now. Here's what you need to know before buying in. USA TODAY A data breach affecting Coinbase, the world's largest cryptocurrency exchange, has left some customers' data vulnerable. The U.S. Department of Justice reportedly launched a probe into the attack. Cyber criminals bribed a group of 'rogue' overseas support agents to facilitate the breach, according to the company. The company said it received an email from an unknown actor on May 11 who claimed to have access to some internal documents and information about certain customer accounts. Coinbase refused to pay their ransom demand of $20 million and is instead offering a $20 million reward for information about the hackers. "We have notified and are working with the DOJ and other U.S. and international law enforcement agencies and welcome law enforcement's pursuit of criminal charges against these bad actors," Coinbase's Chief Legal Officer Paul Grewal told Reuters. Coinbase said the hackers did not gain access to login credentials or passwords, but they did steal other customer data. The company said it will install extra safeguards and reimburse customers who were tricked into sending money to the attackers. In addition, it is opening a new support hub in the U.S. The company's share prices took a dive when Coinbase forecast a hit of $180 million to $400 million after the attack. If you are one of the millions of American Coinbase customers, here's what to know about the breach and how to protect yourself: More: Landmark cryptocurrency bill blocked over concerns about Trump's connections What did the Coinbase hackers get? According to the crypto exchange, the attackers gained access to the following information from a subset of its customers in the breach: Name, address, phone, and email Last four digits of their social security numbers Masked bank-account numbers and some bank account identifiers Government-ID images Account data, such as balance snapshots and transaction history Coinbase said the attackers do not have access to: Login credentials or two factor authentication codes Private keys Any ability to move or access customer funds Coinbase Prime accounts Any Coinbase or Coinbase customer hot or cold wallets How can Coinbase customers protect themselves after the breach? The company said it sent out an email notifying affected customers on May 15 and will reimburse those who mistakenly sent funds to a scammer as a direct result of the breach prior to that day after a review of the incident. Coinbase customers should be on high alert for scammers trying to retrieve more information or money after the breach. 'Expect imposters. Scammers—related to this incident or not—may pose as Coinbase employees and try to pressure you into moving your funds,' Coinbase said in a statement. 'We will never call or text you to give you a new seed phrase or wallet address to move your funds to. If you receive this call, hang up the phone.' In addition, the company recommends turning on withdrawal allow-listing, which only permits transfers to wallets you are confident you fully control. It also suggests enabling strong two factor authentication. If something feels off, Coinbase advises you lock your account and email security@ Are other crypto exchanges at risk While this breach did not affect other crypto exchanges, they have also been subject to cyber attacks and cryptocurrency customers are generally common targets for scammers. Funds stolen by hacking crypto platforms increased 21% and totaled $2.2 billion in 2024, a Chainalysis report found. Other crypto exchange platforms including Robinhood and Cash App have fallen victim in the past to cyberattacks that exposed millions of users' data. While the industry has become more mainstream over the years, Coinbase acknowledged that widespread adoption of cryptocurrency will depend on trust. Contributing: Reuters Reach Rachel Barber at rbarber@ and follow her on X @rachelbarber_
Straits Times
15-05-2025
- Business
- Straits Times
Coinbase warns of up to $519 million hack, rocking company that led crypto into mainstream
Coinbase is the firm that led the digital-asset industry's march into the mainstream financial system as the first publicly traded crypto exchange. PHOTO: REUTERS San Francisco – On the long list of crypto companies that have been hacked, there are plenty of examples of financial losses that are much more painful than what Coinbase Global appears to be facing from the attack it disclosed on May 15. Yet this one stands out for significance far beyond the US$400 million (S$519 million) the company expects it will cost: This time, the victim was arguably the most influential US company in the industry. Coinbase is the firm that led the digital-asset industry's march into the mainstream financial system as the first publicly traded crypto exchange. It's the company that safeguards the lion's share of the US$122 billion worth of tokens owned by spot-Bitcoin exchange-traded funds (ETFs). And it's the firm that did much of the heavy lifting when it came to the industry's campaign spending spree to send a platoon of pro-crypto lawmakers to Washington this year. Indeed, the revelation of the hack comes just three days after the company's crowning achievement in mainstreaming crypto with its addition to the S&P 500 Index, a development that will land its shares into trillions of dollars worth of retirement plans and other investment products that track the benchmark gauge. The hack, plus subsequent news of a lingering Securities and Exchange Commission (SEC) investigation into how the company reported its number of users, sent the shares down more than 7 per cent on May 15. Less than 1 per cent of the exchange's monthly transacting users were affected, Coinbase said on May15. In addition to ramping up security controls for those affected, Coinbase said it would reimburse in full anyone who lost money. Instead of paying the ransom, the exchange is offering a US$20 million bounty to anyone with information leading to the attackers' arrest and conviction. While the company says the Coinbase Prime service that custodies crypto for ETF issuers and services other institutional investors was not affected, the hackers did have near-constant access to some of Coinbase Global's most valuable customer data since January, according to a person familiar with the incident. The hackers' scheme was brazen, if not especially impressive from a technology standpoint: They bribed customer representatives to steal client data and then demanded a US$20 million ransom to delete it. Coinbase began noticing unusual activity from some of these representatives as far back as January. The bribed reps got access to names, dates of birth, addresses, nationalities, government-issued ID numbers, some banking information as well as details about when customer accounts were created and their balances, the person said. This information could be used to attempt to impersonate Coinbase and convince customers to let the hackers into their account. It could also be used to impersonate the victims with other service providers to attempt to convince them to let hackers into other financial accounts they maintain. For some traders with big balances on the exchange, the incident was alarming for reasons that go beyond the potential financial losses, considering the kidnapping and mutilation of a crypto start-up co-founder earlier this year and reports of other similar incidents. 'It's a major breach, the amount of personal information shared is staggering,' said Mike Dudas, managing partner of web3 firm 6MV, who said he was targeted by the Coinbase hackers. 'It will make people have to consider their personal physical security, especially with the things happening in France and elsewhere.' The hackers had bribed enough customer service representatives to achieve effectively on-demand access to Coinbase customer information in the past five months, the person said. Coinbase chief security officer Philip Martin disputed the assertion of near constant access, saying in an interview with Bloomberg News that the company pulled the agents' access as soon as it was discovered that they were improperly sharing information. Therefore the hackers 'did not have persistent access over the course of the entire period,' he said. 'What these attackers were doing was finding Coinbase employees and contractors based in India who were associated with our business process outsourcing or support operations, that kind of thing, and bribing them in order to obtain customer data,'Mr Martin said. Coinbase detected the agents, quarantined them and fired them, as soon as the company noticed the activity. David Jeong, a crypto founder in New York, said he received a text from unidentified number on April 3, in which he was asked to verify the login for his personal account. He then received another text from a different number on May 4. Jeong said he hasn't used a one-time password from Coinbase for two years. In the email, Coinbase recommended that customers ensure they're 'regularly monitoring your account, using a strong and unique password.' Hacks have long plagued the crypto industry, thanks to its heavy reliance on user anonymity and complex digital software. Around US$2.2 billion was lost to such incidents in 2024, according to researcher Chainalysis. Operating under the threat of attack has been particularly painful for crypto exchanges, which are often major targets and face high ongoing costs to maintain tight security. This type of so-called social engineering attack – in which criminals use people to gain unauthorised access to data, rather than exploiting flaws in computer code – is a type of threat has become increasingly popular in crypto, resulting in recent major incidents like the US$1.5 billion hack of crypto exchange Bybit in February. 'Unfortunately as our nascent industry grows rapidly, it draws the eye of bad actors, who are becoming increasingly sophisticated in the scope of their attacks and harnessing new AI tools and techniques to bypass fraud prevention measures,' said Nick Jones, founder and CEO at crypto technology platform Zumo. 'This is understandably a huge blow for a company that has had a pivotal few weeks.' Meanwhile, the New York Times reported that the SEC has been investigating whether Coinbase misstated its user numbers in past disclosures as part of an inquiry that began during the Biden administration. 'This is a hold-over investigation from the prior administration about a metric we stopped reporting two and a half years ago, which was fully disclosed to the public,' Paul Grewal, Coinbase's chief legal officer, said in a statement. 'While we strongly believe this investigation should not continue, we remain committed to working with the SEC to bring this matter to a close.' BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
