In a bid to combat piracy and cybercrime fueled by cryptocurrency, major cryptocurrency exchange Coinbase has entered into a partnership with Irdeto, a digital platform security specialist.
The collaboration, according to Irdeto, aims to enhance its Cyber Services, particularly the Payment Disruption service. This initiative focuses on identifying and eliminating threat actors who exploit cryptocurrency platforms to finance illegal activities.
The partnership will enable Irdeto to deliver detailed investigative reports to Coinbase, assisting in the identification and removal of malicious participants in the crypto space. “This disrupts the criminals’ ability to receive payments for illegal services and halts their progression into more serious forms of cybercrime,” the company stated.
Recently, we have seen a troubling rise in the utilization of cryptocurrency for funding illicit operations, which underscores the importance of our strategic alliance with Coinbase. For more details, please refer to our press release: https://t.co/MvpXuSckeV pic.twitter.com/Wrcg7eMMi4
— Irdeto (@Irdeto) May 29, 2025
Irdeto also plans to expand its investigation capabilities through this partnership, especially as the use of cryptocurrency for gang-related payments and profit laundering continues to rise.
Additionally, the Cyber Services team is committed to aiding clients in reporting illegal activities and identifying bad actors to law enforcement. This collaboration will facilitate the pinpointing of crypto address owners, support ongoing investigations, assist in the apprehension of offenders, and contribute to the prosecution and recovery of illicit cryptocurrency assets.
Mark Mulready, Vice President of Cyber Services at Irdeto, expressed optimism about the partnership, stating, “This empowers us to remove financial lifelines from pirates and cheat developers before they can scale their operations. This is a powerful example of how strategic industry collaboration can disrupt criminal infrastructure and protect the digital ecosystem.”
Cutting Cybercrime Infra at Source
Irdeto’s investigations have revealed that criminals in the video entertainment and gaming sectors are increasingly turning to cryptocurrency for illegal transactions. The organization has identified a worrying trend, with the percentage of illicit service providers using cryptocurrency rising from 13% in 2022 to 19% by the end of 2024.
The newly forged partnership is specifically designed to target and disrupt cybercriminal activities at their source.
Mulready remarked, “Irdeto is committed to not only detecting threats but actively dismantling the infrastructure that supports them.” The company intends to continue collaborating with digital transaction platforms and law enforcement on a global scale.
He added that alliances, such as the one with Coinbase, strengthen the Payment Disruption service, thereby enhancing efforts to combat cybercrime across various industries. Irdeto is actively pursuing additional partnerships with crypto platforms to bolster its tracking capabilities in illicit markets and eliminate financial conduits for criminals.
"The ultimate vision for crypto has always been economic freedom." – @brian_armstrong, co-founder of @coinbase
"The mission of Coinbase is to increase economic freedom in the world. It enables people to live a freer life and not have things taken away from them."
"If people are… pic.twitter.com/1v4CZrxKcq
— TBPN (@tbpn) May 28, 2025
According to John Kothanek, Coinbase’s VP of Global Intelligence, the partnership with Irdeto will allow for more rapid action based on high-quality intelligence, effectively dismantling harmful actors at an early stage while reinforcing trust within the cryptocurrency ecosystem.
Earlier this month, Coinbase faced an extortion attempt where cybercriminals demanded $20 million in Bitcoin, prompting a subsequent investigation by the U.S. Justice Department (DOJ) into a related security breach.
In response to this incident, Coinbase Chief Legal Officer Paul Grewal stated, “We have notified and are working with the DOJ and other U.S. and international law enforcement agencies and welcome law enforcement’s pursuit of criminal charges against these bad actors.”
On May 25, a class-action lawsuit was filed by investors against the exchange, alleging that it failed to promptly disclose a significant data breach and regulatory violation, which led to a decline in the company’s stock price.
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