The cybercrime group Coinbase Cartel targeted NTT Data, a Japanese IT services giant, by exploiting vulnerabilities in its US subsidiary Vectorform (acquired in 2022). The attack involved large-scale data exfiltration without encryption, leveraging exposed credentials in cloud repositories (e.g., AWS, GitHub) and potential insider assistance. While NTT Data denied a direct breach, Vectorform’s systems were compromised, with sensitive operational, client, or proprietary data stolen. Coinbase Cartel employed a ‘leak-only’ ransomware model, threatening public disclosure to extort payment while avoiding system disruption. The stolen data—likely including logistics, supply chain, or corporate intelligence—poses reputational, legal, and financial risks, particularly given the transportation/logistics sector’s reliance on third-party integrations (TMS, WMS, EDI). The breach underscores vulnerabilities in vendor access controls, credential hygiene, and segmentation, with the group staging leaks to pressure negotiations. No encryption occurred, but the theft of high-value data exposes NTT Data to regulatory scrutiny, customer distrust, and potential litigation, especially if client or employee records were exposed.