Latest news: Major Cyber-Attack Hits Coinbase, Shaking Crypto Confidence – The Guardian

Published: 2025-05-18

Coinbase, one of the world's largest cryptocurrency exchanges, has fallen victim to a major cyber-attack that breached user wallets and raised serious concerns over platform security. As regulators and investors react, the incident is already influencing shifts in market sentiment and platform trust.

🔐 Sophisticated Attack Targets User Wallets

The breach reportedly involved phishing schemes and SIM-swapping tactics that allowed hackers to bypass two-factor authentication and access digital assets. While Coinbase claimed that only a "limited number" of accounts were affected, cybersecurity analysts suggest the impact may be broader.

📉 Crypto Market Reacts with Increased Caution

The attack has shaken investor confidence in centralized exchanges. Bitcoin and Ethereum saw modest declines, while user interest surged in decentralized platforms and cold wallets. Experts warn this could be a turning point in how users manage digital asset security.

Source: The Guardian