🇺🇸 NEW: 14 US states have reported $632m in $MSTR exposure for Q1, in public retirement and treasury funds. A collective increase of $302m in one quarter. The average increase in holding size was 44%.

COINBASE FACES UP TO $400M LOSS AFTER CYBERATTACK EXPOSES CUSTOMER DATA - Coinbase, one of the largest cryptocurrency exchanges in the U.S., revealed a significant cyberattack that could cost the company between $180 million and $400 million, according to The Guardian. Key Details: - The attack targeted a small subset of customers, exposing personal data but sparing critical login credentials and passwords. - The breach unfolded when hackers infiltrated the company’s internal systems by paying off several contractors and employees outside the U.S. - Per reports, these insiders handed over customer information including names, addresses, and emails. - Coinbase reportedly terminated those involved and is cooperating with law enforcement agencies. - In a regulatory filing, Coinbase detailed the hackers reaching out demanding a $20 million ransom to keep quiet. - The company refused to pay and instead established a $20 million reward fund to encourage tips leading to the arrest and conviction of the perpetrators. Response from Coinbase to Customers: - Despite the stolen data, Coinbase assured customers that login details remained secure. - However, criminals used the leaked information to impersonate the exchange and trick some users into sending funds directly to the attackers. - Coinbase committed to reimbursing anyone who fell victim to these scams. - The exchange urges customers to remain vigilant, reminding them it will never ask for passwords, two-factor authentication codes, or transfers to unfamiliar addresses. The company advises users to lock their accounts if they suspect suspicious activity. - Coinbase emphasized transparency and accountability: “To the customers affected, we’re sorry for the worry and inconvenience this incident caused. We’ll keep owning issues when they arise.” - Security challenges continue to plague crypto platforms. A recent report from Chainalysis highlights that hacking-related losses in the crypto sector totaled $2.2 billion in 2024 alone.