Hyderabad: Coinbase CEO Brian Armstrong applauded Hyderabad Police for arresting a cybercrime suspect who allegedly assisted hackers targeting the cryptocurrency firm.
Armstrong shared the message on X, praising the police for swift and effective action against cyber criminals. He said Coinbase followed a strict zero-tolerance policy towards cyber fraud and data theft.
According to the company, hackers recently targeted Coinbase’s crypto operations. They allegedly stole customer-related data and later demanded $20 million as ransom. Armstrong said an agent who assisted the hackers was an Indian national.
Coinbase CEO praises Hyderabad Police action
Sharing details of the development, Armstrong said Hyderabad Police arrested the accused involved in the cyber attack. He publicly thanked the police force for tracking down the suspect and acting decisively.
“Thank you to Hyderabad Police. Others who support hackers should expect the same outcome,” Armstrong said in his post. He added that Coinbase would continue to work closely with law enforcement agencies to combat cyber crime.
Police officials have not released further details of the investigation so far. However, sources said investigators were continuing efforts to identify and track other members of the hacking network.
Twitter Post:
Coinbase CEO Brian Armstrong applauded Hyderabad Police for arresting a suspect linked to a cyber attack involving data theft and a $20 million extortion demand.