Bitcoin breaks out while Coinbase breaks down: Finance Redefined

News broke on May 15 that Coinbase was the target of a $20 million extortion attempt after cybercriminals recruited overseas support agents to leak user data for social engineering scams. While less than 1% of Coinbase’s active monthly users were reportedly affected, the expected remediation and reimbursement expenses range from $180 million to $400 million, as the exchange pledged to repay all phishing attack victims. Despite the attack on the world’s third-largest cryptocurrency exchange, investor sentiment remains optimistic, with the Fear & Greed Index remaining firmly in the “Greed” zone above 69, according to CoinMarketCap data. Fear & Greed Index, 30-day chart source: https://cointelegraph.com/news/bitcoin-breaks-out-coinbase-breaks-down-finance-redefined?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound