Coinbase recently terminated a group of customer support agents in India due to their alleged involvement in social engineering attacks on users. The company’s chief security officer, Philip Martin, revealed in a Fortune interview on May 15 that the agents allowed scammers access to user data, potentially Indian nationals. This action came after attempted phishing attacks using Coinbase data, estimated to cost between $180 million and $400 million in remediation. Qiao Wang of Alliance DAO shared his experience of being targeted in one of these attacks. The scammer informed him of a compromised account, requested personal information likely obtained through compromised agents, and urged transferring funds to a “Coinbase self-custodial wallet.” Despite attempts to address the issue, the scammer boasted making $7 million in a day. Following an SEC disclosure projecting reimbursements up to $400 million, Coinbase Global’s shares fell over 5%. Regulatory concerns arose as Coinbase CEO Brian Armstrong visited Washington, DC, to support crypto-related legislation amidst reports of alleged bribes and a data breach. The New York Times reported an SEC investigation into Coinbase’s alleged misstatement of user numbers since 2021. Though the SEC dropped enforcement action in March, ongoing scrutiny about “verified user” figures remains. Armstrong stated 103 million verified users in 2022, contrasting with the 43 million reported in a previous filing, attributing the discrepancy to an investigation from the prior administration. Stay updated on this developing story as regulatory and security issues continue to impact Coinbase and the broader crypto industry in India.