The firm says hackers have obtained customer information by paying off employees.

US cryptocurrency exchange Coinbase has been targeted by hackers who stole customer data and demanded $20mn to prevent its public disclosure, the company said on Thursday. The group, which next Monday is set to become the first crypto exchange to join the S&P 500, said the cyber demands were made on Monday.

Coinbase said hackers had paid multiple contractors and employees working in support roles to collect information. It has fired those involved.

The inquiry continued even after the commission dropped a lawsuit accusing Coinbase of illegally marketing digital currencies to the public.

The SEC is reportedly investigating Coinbase over claims it overstated user numbers in past filings — just days before its entry into the S&P 500.

Coinbase, the leading US crypto exchange, faced a cyber attack involving bribed overseas customer support agents. Hackers demanded a $20 million ranso

The company is the first of its kind to join the landmark index. Cryptocurrency skeptics and fans alike say that gives the virtual tender a stamp of legitimacy, but can’t agree if it’s warranted.

The Pakistan Crypto Council, which had been established by the finance minister in March to promote the “digital-asset” industry, was celebrating a tie-up with World Liberty Financial (WLF), a firm belonging to Mr Trump and his family.