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Coinbase Customer Info Stolen by Bribed Insiders

Insider threat is a major problem and getting worse all the time. Coinbase, the largest US-based cryptocurrency exchange, has disclosed a major data breach involving bribed overseas customer support agents who stole sensitive customer information. The attackers demanded a $20 million ransom, which Coinbase refused to pay. Instead, the company has offered a $20 million reward […]

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Security News for the Week Ending June 25, 2021

Paying Ransom is Tax Deductible Under current IRS regulations, paying cyber ransom after a hack is deductible, just like losses from a robbery, but the IRS is “looking into it”. One way the government could discourage ransom payments is if the cost is borne fully by the company’s owners. They still might choose to do […]

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