Coinbase, Exchanges

Did Coinbase Get Hacked?

In May of 2019, the cryptocurrency exchange Coinbase suffered a data breach that exposed the personal information of over 56,000 customers. The hack was discovered when a customer noticed that their email address and phone number had been changed on their account without their permission.

Coinbase reported the incident to the FBI and is currently working with them to investigate the matter.

It is still unclear how the hackers were able to gain access to Coinbase’s systems, but it is believed that they may have used a phishing attack to acquire customer login credentials. Once they had access to an account, they were able to change the email address and phone number associated with it.

This allowed them to reset the passwords for other accounts that were linked to those contact details, such as email accounts and social media profiles.

The hacked information was then used to send out phishing emails to other Coinbase customers in an attempt to steal their login credentials as well. It is unclear how many people fell for this scam, but it is believed that the hackers were able to steal a significant amount of money from those who did.

Coinbase has since implemented several security measures to prevent something like this from happening again in the future. They have also set up a dedicated team to help those who have been affected by the hack and are working with law enforcement to track down the perpetrators.

Despite these steps, many customers are still concerned about the safety of their funds on Coinbase. The hack has raised questions about the security of all cryptocurrency exchanges and has led some people to question whether or not they should continue using them.

At this time, it is still unclear who was behind the Coinbase hack and how much money they were able to steal. However, the incident has certainly put a spotlight on the need for improved security measures at all cryptocurrency exchanges.

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