PANews reported on December 27th, citing Bloomberg, that Brian Armstrong, CEO of Coinbase Global Inc., stated that a former customer service representative has been arrested in India. This comes months after hackers bribed customer service personnel to obtain customer information. In May, the company stated that hackers bribed contractors or employees outside the United States to steal sensitive customer data and demanded a $20 million ransom. This was one of the most high-profile security breaches experienced by cryptocurrency trading platforms. At the time, Coinbase estimated that the cost of remediating the incident could reach as high as $400 million.