Coinbase Breach Incident Score: Analysis & Impact (MARCOIDISTAS1770173590)

In this Rankiteo incident briefing, we review the Coinbase breach identified under incident ID MARCOIDISTAS1770173590.

The analysis begins with a detailed overview of Coinbase's information like the linkedin page: https://www.linkedin.com/company/coinbase, the number of followers: 1329070, the industry type: Financial Services and the number of employees: 7242 employees

After the initial compromise, the video explains how Rankiteo's incident engine converts technical details into a normalized incident score. The incident score before the incident was 230 and after the incident was 183 with a difference of -47 which is could be a good indicator of the severity and impact of the incident.

In the next step of the video, we will analyze in more details the incident and the impact it had on Coinbase and their customers.

Coinbase recently reported "Coinbase Insider Breach Impacting 30 Customers", a noteworthy cybersecurity incident.

Coinbase disclosed an insider breach involving a contractor who improperly accessed the personal data of approximately 30 customers in December.

The disruption is felt across the environment, affecting Internal support interface, and exposing Personal data (names, email addresses, phone numbers, KYC information, wallet balances, transaction histories), with nearly 30 records at risk.

In response, teams activated the incident response plan, moved swiftly to contain the threat with measures like Contractor terminated, affected users notified, and began remediation that includes Identity theft protection services provided to affected users, and stakeholders are being briefed through Public disclosure, regulatory notifications.

The case underscores how Completed, teams are taking away lessons such as Insider threats pose significant risks, especially in third-party contractor relationships. Enhanced monitoring and access controls are critical for mitigating such breaches, and recommending next steps like Implement stricter access controls for contractors and third-party vendors, Enhance monitoring of internal systems for unauthorized access and Provide regular security awareness training for employees and contractors, with advisories going out to stakeholders covering Affected users notified and provided with identity theft protection services.

Finally, we try to match the incident with the MITRE ATT&CK framework to see if there is any correlation between the incident and the MITRE ATT&CK framework.

The MITRE ATT&CK framework is a knowledge base of techniques and sub-techniques that are used to describe the tactics and procedures of cyber adversaries. It is a powerful tool for understanding the threat landscape and for developing effective defense strategies.

Rankiteo's analysis has identified several MITRE ATT&CK tactics and techniques associated with this incident, each with varying levels of confidence based on available evidence. Under the Initial Access tactic, the analysis identified Valid Accounts: Local Accounts (T1078.003) with high confidence (90%), supported by evidence indicating insider breach involving a contractor who improperly accessed the personal data and Trusted Relationship (T1199) with moderate to high confidence (80%), supported by evidence indicating contractor...was detected by the company’s security team last year. Under the Credential Access tactic, the analysis identified Unsecured Credentials: Private Keys (T1552.004) with moderate to high confidence (70%), supported by evidence indicating screenshots of an internal support interface...revealing customer details. Under the Collection tactic, the analysis identified Data from Local System (T1005) with high confidence (90%), supported by evidence indicating personal data of approximately 30 customers...names, email addresses, KYC information and Data from Information Repositories: Confluence (T1213.001) with moderate to high confidence (70%), supported by evidence indicating internal support interface...revealing customer details. Under the Exfiltration tactic, the analysis identified Exfiltration Over C2 Channel (T1041) with moderate to high confidence (80%), supported by evidence indicating threat actors...posted screenshots of an internal support interface on Telegram and Exfiltration Over Web Service: Exfiltration to Cloud Storage (T1567.002) with moderate to high confidence (70%), supported by evidence indicating screenshots...posted on Telegram. Under the Impact tactic, the analysis identified Data Destruction (T1485) with lower confidence (30%), supported by evidence indicating no evidence of data destruction, but insider breach may imply risk and Data Manipulation: Stored Data Manipulation (T1565.001) with lower confidence (40%), supported by evidence indicating kYC information and transaction histories compromised. Under the Defense Evasion tactic, the analysis identified Hide Artifacts: Hidden Files and Directories (T1564.001) with moderate confidence (60%), supported by evidence indicating contractor was detected by Coinbase’s security team last year. These correlations help security teams understand the attack chain and develop appropriate defensive measures based on the observed tactics and techniques.