Coinbase warns of up to $519 million hack, rocking company that led crypto into mainstream

Quick Summary:

Revelation of the hack comes just three days after Coinbase's addition to the S&P 500 Index.

Indeed, the revelation of the hack comes just three days after the company’s crowning achievement in mainstreaming crypto with its addition to the S&P 500 Index, a development that will land its shares into trillions of dollars worth of retirement plans and other investment products that track the benchmark gauge.

San Francisco – On the long list of crypto companies that have been hacked, there are plenty of examples of financial losses that are much more painful than what Coinbase Global appears to be facing from the attack it disclosed on May 15.

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Category: EconomyBusiness

Markets: SingaporeFranceIndia

Topics: Information Hackers Firm Company Exchange Crypto Other Access Coinbase Financial Customer

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-16 @ 07:37:00 (17 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 1125 words

Reading Time: 7 minutes read

Sentences: 33 lines

Sentence Length: 35 words per sentence (average)

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News ID: 28736879

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