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The largest cryptocurrency exchange Coinbase reported a hacker attack, as a result of which cryptocurrency was stolen from more than 6,000 accounts.
Crypto exchange Coinbase was hit by a large-scale attack between March and May of this year. This is reported by the Bleeping Computer edition, citing a letter from the exchange to affected customers. As a result of the attack, cryptocurrency was stolen from 6,000 accounts.
Coinbase is the second largest cryptocurrency exchange in the world with approximately 68 million users from over 100 countries.
In a notification sent to affected customers, Coinbase explains that between March and May 20, 2021, an attacker conducted a hacking campaign to hack Coinbase customer accounts and steal cryptocurrency.
Coinbase suggests that attackers used phishing attacks or other social engineering techniques to gain access to users' email addresses, phone numbers, and passwords. At the same time, Coinbase has no evidence that a third party received this data from the crypto exchange itself.
However, according to Coinbase representatives, there is a vulnerability in the account recovery process via SMS. It allows attackers to obtain a two-factor authentication token. The same token is required to access the protected account during the account recovery process.
Since the flaw allowed attackers to gain access to protected accounts, the cryptocurrency exchange promised to reimburse all affected customers for the full value of the cryptocurrency stolen from their accounts.
Crypto exchange Coinbase was hit by a large-scale attack between March and May of this year. This is reported by the Bleeping Computer edition, citing a letter from the exchange to affected customers. As a result of the attack, cryptocurrency was stolen from 6,000 accounts.
Coinbase is the second largest cryptocurrency exchange in the world with approximately 68 million users from over 100 countries.
In a notification sent to affected customers, Coinbase explains that between March and May 20, 2021, an attacker conducted a hacking campaign to hack Coinbase customer accounts and steal cryptocurrency.
Coinbase suggests that attackers used phishing attacks or other social engineering techniques to gain access to users' email addresses, phone numbers, and passwords. At the same time, Coinbase has no evidence that a third party received this data from the crypto exchange itself.
However, according to Coinbase representatives, there is a vulnerability in the account recovery process via SMS. It allows attackers to obtain a two-factor authentication token. The same token is required to access the protected account during the account recovery process.
Since the flaw allowed attackers to gain access to protected accounts, the cryptocurrency exchange promised to reimburse all affected customers for the full value of the cryptocurrency stolen from their accounts.
