Coinbase is offering $20 million in reward money for information leading to the arrest and conviction of criminals who used insider information to dupe users of the platform for buying, selling and trading cryptocurrency

Coinbase is offering $20 million in reward money for information leading to the arrest and conviction of criminals who used insider information to dupe users of the platform for buying, selling and trading cryptocurrency

 Lionel BONAVENTURE

Coinbase on Thursday said criminals bribed and duped their way to stealing cryptocurrency from its users, then tried to blackmail the exchange to keep the crime quiet.

Instead of paying up, Coinbase informed US regulators about the theft and made plans to spend from $180 million to $400 million to reimburse victims and deal with the situation.

Originally published on doc.afp.com, part of the BLOX Digital Content Exchange.