Posted on 10/01/2021 8:41:16 PM PDT by SeekAndFind
Hackers stole from the accounts of at least 6,000 customers of Coinbase Global Inc, according to a breach notification letter sent by the cryptocurrency exchange to affected customers.
The hack took place between March and May 20 of this year, according to a copy of the letter posted on the website of California’s Attorney General.
Unauthorized third parties exploited a flaw in the company’s SMS account recovery process to gain access to the accounts, and transfer funds to crypto wallets not associated with Coinbase, the company said.
“We immediately fixed the flaw and have worked with these customers to regain control of their accounts and reimburse them for the funds they lost,” a Coinbase spokesperson said on Friday.
The hackers needed to know the email addresses, passwords and phone numbers linked to the affected Coinbase accounts, and have access to personal emails, the company said.
Coinbase said there was no evidence to suggest the information was obtained from the company.
(Excerpt) Read more at theepochtimes.com ...
I have a small Coinbase account. I like Crypto.com better but this makes me scared.
I use coinbase. Kraken requires more time to reopen the account. Miningpoolhub.com makes you wait a week.
Oops.
I took someone’s advice a couple of years ago and started using Atomic Wallet to hold my crypto locally. It’s nice (guess I’d better check, though!)
I would never trust an “exchange” to properly secure my currency.
This needs to be manged by each of us, locally and remotely. Keep a backup off site from your home at a relative’s house. A simple encryption key with 7-zip will be more than adequate.
ping
I had no idea that the state restricts to sale of liquor to state stores, but allows the sale of 'imaginary currency' to any space that can hold a vending machine.
WOW.
BTW, that WOW is screamed at high decibels by a screeching young, woman and it really sounds like WHAAALLLLLLL!
CASH...
Why would anyone in there right mind expect privacy in a digital age? This wasn’t much of a problem when everything was on paper.
I cleaned mine out a while back as prices were sliding. I originally started with $250. That made it up to $430 and I pulled $300. Then when the slide started, I pulled the rest which was about $100 by then.
Had my fun with crypto. Might buy some more some day, might not.
Ping!
I noticed Coinbase recently required an Authenticator app… must be why.
H/T VK Lee
Note:
If anyone wants to be added to the FR Crypto Ping List, PM me!
We pulled our original stake, leaving only profit.
It has almost doubled.
Our strategy is HODL the “house money.”
I use my coinbase account only to buy usdt to transfer to my hyperfund membership. It’s in there for maybe 5 minutes before it’s gone.
It’s funny that the Chinese outlawed Bitcoin but still expect their mandarins to steal it...
Coinbase was my first exchange but I pulled everything into cold storage. Their fees are too high and other exchanges are now offering many of the same coins/tokens.
The only thing I have in Coinbase are the freebies that they give away. Total of like $75
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