A Reuters investigation has revealed that Coinbase was alerted to a customer data leak at its outsourcing partner Taskus nearly four months before the exchange publicly acknowledged the incident, which is now expected to cost the company $400 million.
Employee Photographed Work Computer
According to five former employees quoted in the report, a female Taskus employee in Indore, India, was caught taking photos of her work computer screen. She and an accomplice are believed to have passed customer information to hackers in exchange for bribes. Coinbase was notified of the incident promptly, but only took action after hackers attempted to extort $20 million from the exchange in May 2025.
Following the initial report, Taskus abruptly terminated around 200 employees, leading to allegations of unfair dismissal. Coinbase later stated that the breach affected less than 1% of its monthly transacting users, with attackers accessing internal customer support systems and obtaining personal information.
Rising Security Risks for Crypto Holders
The disclosure comes amid a surge in armed robberies targeting wealthy crypto holders. Criminals often possess detailed knowledge of victims' holdings, suggesting data leaks like this one exacerbate physical security risks. Observers note that the cost of this breach far exceeds the monetary figure, as it erodes trust in the exchange's handling of sensitive data.
Coinbase acknowledged that it was aware of contractors obtaining user data illegally in previous months but only acted after the bribery attempt. The exchange has since severed ties with the TaskUs personnel involved and tightened controls. TaskUs confirmed that two employees were let go in January.