Coinbase&#8217;s proactive measures highlight the growing importance of robust cybersecurity and collaboration with law enforcement in the crypto industry. The post Coinbase launches $20M bounty to catch perpetrators of data breach appeared first on Crypto Briefing.

Coinbase launches $20M bounty to catch perpetrators of data breach

Ether.fi token continued its strong rally, reaching its highest level since 
February, even as Bitcoin and other altcoins retreated. Ether.fi (ETHFI) 
jumped to $1.60, up more than 300% from its April low, giving it a market cap 
of over $420…

Here’s why the ETHFI price has gone parabolic

Coinbase has reportedly fired a group of customer support agents following 
their alleged involvement in social engineering attacks on users. The 
contracted agents were based in India.
According to a May 15 Fortune interview, Coinbase&#8217;s chief security officer, 
Philip Martin, said the company flagged customer support contractors who 
allowed scammers access to user data, suggesting they could be Indian 
nationals. The CSO&#8217;s comments came after some crypto users reeled from 
attempted phishing attacks using their Coinbase data, which the exchange 
estimated could cost them between $180 million and $400 million in remediation 
and reimbursement.
Qiao Wang, a core contributor to Alliance DAO, said in a May 15 X post that he 
may have been a victim of one of these attacks. He said a scammer notified him 
his Coinbase account had been compromised, asked him to verify his personal 
information, to which the criminals likely had access through the compromised 
agents, and requested he withdraw all his funds to a &#8220;Coinbase self-custodial 
wallet.&#8221;
&#8220;I called them out at the end of the call telling them they need to step up 
their game [&#8230;],&#8221; said Wang on X. &#8220;They told me that had made $7m that day.&#8221;
Cointelegraph reached out to Martin and Coinbase for comments, but had not 
received responses at the time of publication.
This is a developing story, and further information will be added as it 
becomes available.

Coinbase fires compromised agents in India — Coinbase CSO

Phantom is launching its own liquid staking SOL token, enabling traders to use 
it within its wallet app.

Phantom launches liquid staking token PSOL, enabling staking without lockup

EOS has declined over 10% in the past 24 hours and is now testing a critical 
support area around $0.70. While the trend remains bearish, this level 
presents a high-confluence opportunity for a potential bullish reaction if 
demand steps in.…

EOS price drops 10.45%: is $0.70 the last line of defence?

**Key takeaways:**
 * Spot Bitcoin ETF inflows dropped over 90% from $3 billion to $228 million in four weeks. 
 * While strong ETF inflows often drive Bitcoin rallies, recent data shows price movements can occur independently.
 * Despite short-term selling pressure, long-term BTC whale buying suggests a potential continuation of the BTC uptrend.
The Bitcoin (BTC) market posted a 90+% drop in spot BTC exchange-traded fund 
(ETF) inflows, falling from $3 billion in the last week of April to just $228 
million this week.
Historically, a slowdown in ETF inflows has impacted BTC price, notably when 
daily inflows averaged over $1.5 billion for consecutive weeks. To understand 
the potential impact on Bitcoin, let&#8217;s examine four key periods of significant 
spot ETF activity and their correlation with BTC price movements.
_Spot Bitcoin ETFs &#8216; net inflows. Source: SoSoValue_
In Q1 2024, from Feb. 2 to March 15, the spot ETFs recorded $11.39 billion in 
net inflows over seven weeks, driving a 57% price surge. Although BTC prices 
peaked in week five, as $4.8 billion inflows in the final two weeks did not 
push its value higher.
_Bitcoin 1-week chart. Source: Cointelegraph/TradingView_
Similarly, Q3 2024 saw $16.8 billion in inflows over nine weeks from Oct. 18 
to Dec. 13, fueling a 66% rally. However, when inflows slowed in the 10th 
week, Bitcoin&#8217;s price dropped 9%, reinforcing the link between ETF flows and 
price corrections.
In Q1 2025, $3.8 billion in inflows over two weeks (Jan. 17-24) coincided with 
a new all-time high of $110,000 on Jan. 20, but overall prices fell 4.8%. 
Most recently, Q2 2025 (April 25-May 9) saw $5.8 billion in inflows and a 22% 
price rally, though Bitcoin had already gained 8% in the prior two weeks 
despite negative netflows.
_Bitcoin price and spot ETFs correlation. Data source: SoSoValue, 
Cointelegraph_
This data challenges the notion that spot ETF inflows consistently drive 
prices. While Q3 2024 and Q2 2025 suggest strong inflows fuel rallies, Q1 2024 
and Q1 2025 show prices can stagnate or fall despite significant inflows. The 
Q2 2025 rally, partially independent of spot ETF activity, hints at other 
drivers like easing US tariffs, retail interest or Bitcoin whale accumulation.
With inflows now at $228 million, the historical trend leans bearish, 
suggesting a potential correction. However, a counterargument emerges from 
recent whale activity, which paints a more bullish picture.
_**Related: 6 signs predicting $140K as Bitcoin&#8217;s next price top**_
## Bitcoin faces selling pressure, but whales may retain the trend
Bitcoin exhibits short-term selling pressure as the Buy/Sell Pressure Delta 
turns negative, according to Alphractal CEO Joao Wedson. The chart shows that 
whales are starting to offload BTC between $105,000 and $100,000, a level 
flagged as risky by Wedson. This bearish shift, with a negative cumulative 
volume delta, indicates selling pressure in the short term.
_Bitcoin Buy/Sell Pressure Delta. Source: X.com_
Yet, long-term buying pressure remains strong, suggesting this dip is a 
correction, not a reversal. Data from CryptoQuant highlights that whales are 
taking relatively fewer profits in the current period than in previous price 
peaks. Anonymous analyst Blitzz Trading noted,
&gt; &#8220;Compared to previous rallies, we can see that whales have taken 
&gt; significantly less profit during this recent surge. This could indicate that 
&gt; the upward trend may continue. This chart should be monitored closely.&#8221;
_Bitcoin Whales. Source: CryptoQuant_
 _**Related: Bitcoin bulls aim for new all-time highs by next week as capital 
inflows soar**_
This article does not contain investment advice or recommendations. Every 
investment and trading move involves risk, and readers should conduct their 
own research when making a decision.