COIN: Coinbase Suffers data Breach

By: fxleaders|2025/05/16 10:00:12
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Coinbase revealed a hack on its cryptocurrency exchange on Thursday. This comes just three days after the company’s most significant accomplishment in popularizing the digital asset class, the addition of its shares in the S&P 500 Index, will be included in trillions of dollars’ worth of retirement plans and other investment products that follow the benchmark index. The company claims that the Coinbase Prime service, which stores cryptocurrency for ETF issuers and provides services to other institutional investors, was unaffected; however, the hackers had almost constant access to a portion of Coinbase Global. According to a person familiar with the incident who wished to remain anonymous while discussing business matters, it was the most valuable customer data since January. The hackers’ plan was blatant, if not particularly impressive in terms of technology: they bought off customer service agents to steal customer information, then demanded a $20 million ransom to remove it. The company first noticed odd behavior in January. The data breach included names, birth dates, addresses, nationalities, government-issued identification numbers, and banking information. The hackers had successfully obtained on-demand access to Coinbase customer data over the previous five months by bribing enough customer support agents. Coinbase Chief Security Officer Philip Martin refuted the claim of nearly continuous access, stating that the company immediately removed the agents’ access after sharing information improperly. He claimed that as a result, the hackers “did not have persistent access throughout the entire period.”.

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WEEX P2P update: Country/region restrictions for ad posting

To improve ad security and matching accuracy, WEEX P2P now allows advertisers to restrict who can trade with their ads based on country or region. Advertisers can select preferred counterparty locations for a safer, smoother trading experience.

 

I. Overview

When publishing P2P ads, advertisers can now set the following:

Allow only counterparties from selected countries or regions to trade with your ads.

With this feature, you can:

Target specific user groups more precisely.Reduce cross-region trading risks.Improve order matching quality.

 

II. Applicable scenarios

The following are some common scenarios:

Restrict payment methods: Limit orders to users in your country using supported local banks or wallets.Risk control: Avoid trading with users from high-risk regions.Operational strategy: Tailor ads to specific markets.

 

III. How to get started

On the ad posting page, find "Trading requirements":

Select "Trade with users from selected countries or regions only".Then select the countries or regions to add to the allowlist.Use the search box to quickly find a country or region.Once your settings are complete, submit the ad to apply the restrictions.

 

When an advertiser enables the "Country/Region Restriction" feature, users who do not meet the criteria will be blocked when placing an order and will see the following prompt:

If you encounter this issue when placing an order as a regular user, try the following solutions.

Choose another ad: Select ads that do not restrict your country/region, or ads that allow users from your location.Show local ads only: Prioritize ads available in the same country as your identity verification.

 

IV. Benefits

Compared with ads without country/region restrictions, this feature provides the following improvements.

Aspect

Improvement

Trading security

Reduces abnormal orders and fraud risk

Conversion efficiency

Matches ads with more relevant users

Order completion rate

Reduces failures caused by incompatible payment methods

V. FAQ

Q1: Why are some users not able to place orders on my ad?
A1: Their country or region may not be included in your allowlist.

 

Q2: Can I select multiple countries or regions when setting the restriction?
A2: Yes, multiple selections are supported.

 

Q3: Can I edit my published ads?
A3: Yes. You can edit your ad in the "My Ads" list. Changes will take effect immediately after saving.

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