All news with #coinbase tag

Cloudflare and Coinbase Launch x402 Foundation and SDK

💳Cloudflare is partnering with Coinbase to form the x402 Foundation and to ship developer support for the x402 protocol, enabling machine-to-machine payments on the web. The announcement introduces a proposed deferred payment scheme that decouples cryptographic commitment from settlement, tailored to agentic use cases like pay-per-crawl. Developers can experiment with x402 today via Cloudflare's Agents SDK, MCP integrations, and a live x402 playground funded with Testnet USDC.

Google Announces AP2: Protocol for Agent-Led Payments

🤖 Google introduced the Agent Payments Protocol (AP2), an open standard developed with more than 60 payments and technology firms to enable secure, agent-initiated transactions across platforms. AP2 extends A2A and MCP, using cryptographically-signed Mandates and verifiable credentials to prove authorization, ensure authenticity, and provide a non-repudiable audit trail. The protocol supports cards, real-time bank transfers, and crypto.

How Bribery at a Vendor Led to Coinbase Extortion Incident

🔒 In early May 2025 Coinbase disclosed that attackers had extorted the company after bribing employees at an outsourced support provider in India to acquire customer and internal data. The theft affected roughly 1% of monthly active users — about 70,000 people — and exposed information useful for social engineering, though no private keys or wallet credentials were taken. Coinbase refused a $20 million ransom, posted a matching bounty, pledged customer reimbursement, flagged suspect blockchain addresses, dismissed implicated vendor staff, and ended the vendor relationship.