Coinbase says user funds are safe after third-party vendor exposes customer contact info

Nasdaq-listed cryptocurrency exchange Coinbase has denied reports of a hack, saying customer funds are safe.

The exchange clarified that the incident that led to the breach of customer data originated at Amplitude, a third-party analytics provider, and not the exchange itself. The exposed data includes only a “small subset” of contact information, alongside data related to other Amplitude clients, Coinbase Support’s X handle said.

It said the exchange is informing impacted customers via email as required by law, while stressing that the exchange’s systems have not seen any unauthorized access.

The disclosure puts the focus on supply-chain risk, meaning customers can face security risks via third parties even when a company’s core infrastructure remains secure. Coinbase did not specify how many customers were affected or exactly which contact-data fields were involved, leaving key details unresolved.

While customer funds remain safe, exposed email addresses and phone numbers can still serve as valuable raw material for phishing and social-engineering attacks, even if passwords, private keys, and funds were not compromised.

CoinDesk reached out to Coinbase for comment on the matter.

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Why it matters:

Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.