A Reuters investigation revealed that cryptocurrency exchange Coinbase knew in January about a breach affecting outsourced customer support agents in India. Six people who knew about the incident said Coinbase was aware of sensitive user data compromise through its contractor, TaskUs, before it was officially announced in May.
On 14th May, TaskUs filed an SEC document revealing that an India-based TaskUs employee was found taking pictures of a computer screen with her phone. Five former TaskUs employees confirmed that the worker and one accomplice were bribed by threat actors to get Coinbase user data.
After this information, more than 200 TaskUs employees were fired in a mass layoff from the Indore center, which drew media attention in India. Earlier, Coinbase suspected ‘overseas support agents’ but now the breach is estimated to cost 400 million dollars.
Coinbase had been a long-term partner of TaskUs, a Texas-based outsourcing firm, cost-cutting labor by giving customer support work to offshore teams. After 2017, TaskUs agents, mostly from developing countries, handled Coinbase customer inquiries.
In the May SEC filing, Coinbase said it didn’t know about the full scale of the breach until it received an extortion demand of $20 Million on 11th May. As a cautionary measure, Coinbase cut ties with TaskUs employees and other unknown foreign actors. Coinbase has notified regulators, compensated affected users, and taken strict measures to strengthen security.
In a public statement, TaskUs confirmed it had fired two staff (unnamed) for data theft but didn’t mention Coinbase. The company found the two staff involved in a cyber attack campaign that targeted other service providers linked to the client.
Hackers did not breach the Coinbase crypto wallets directly, they cleverly used the stolen information to impersonate the Coinbase employees in a series of social engineering scams. The hackers posed as support agents, fooling victims into transferring their crypto assets.
According to Money Control, “The person familiar with the matter confirmed that Coinbase was the client and that the incident took place in January. Reuters could not determine whether any arrests have been made. Police in Indore did not return a message seeking comment.”
A cybercriminal group known for ransomware attacks has decided to stop using those methods and instead focus only on stealing information and demanding money in return. The group, called Hunters International, has rebranded and is now running a new operation.
This group had earlier announced in November 2024 that it would stop its activities. They claimed it was because of low profits and growing attention from police and other authorities. But cybersecurity experts discovered that the group didn’t actually stop – they just changed their approach.
Now, under a new name, World Leaks, the group has returned. Instead of locking people’s files and asking for payment to unlock them, they now secretly steal private data from computers and threaten to release it online unless they’re paid.
According to cybersecurity researchers at Group-IB, the people working with this group are being given a special tool. This software helps them quickly and quietly copy important files from an organization’s systems. It’s believed to be a newer version of a tool they’ve used in the past.
In their earlier version, Hunters International combined two actions: they locked systems (ransomware) and demanded money, and also stole data. But now, they are only stealing data and skipping the system lockout part, which brings less risk and may be harder for authorities to detect.
Hunters International first appeared in late 2023 and was suspected to be connected to an older cyber gang called Hive. Their malware could attack many types of computer systems, including those used by businesses, governments, and servers for virtual machines.
Since then, the group has been behind over 280 attacks on organizations across the globe. They’ve gone after major companies, government bodies, hospitals, and even defense-related firms. In one serious case, they threatened to release personal health records of over 800,000 patients if they weren’t paid.
The group has been targeting companies of all sizes. Experts have seen ransom demands vary, sometimes reaching millions, depending on how large or important the organization is.
Experts say that this shift shows how cybercriminals are always changing tactics to stay ahead. With ransomware becoming riskier and less profitable, many groups may now turn to stealing data as their main method.
To stay safe, organizations should improve their security systems, watch for unusual access, and take steps to protect sensitive data before it’s too late.