Popular cryptocurrency company Coinbase is facing a class action suit following the dismissal of employees involved in the recent data breach on the platform. In the events leading to the dismissal, Coinbase was asked to pay $20 million to prevent the sensitive data from going public. The company, however, refused to pay the ransom and insisted that the $20 million would go to whoever provided information leading to the arrest of the perpetrators.
The compromised data included names, addresses, phone numbers, and social security numbers of users. No password or private key was compromised. The terminated employees believe that Coinbase failed to adequately secure user data, shifting the blame to the company for its lack of capability.