Coinbase: Hackers Offload 6000 Customer Accounts

Coinbase: Hackers Offload 6000 Customer Accounts


Hackers have managed to steal the accounts of at least 6000 Coinbase crypto platform customers. This is according to a message sent to affected customers.

The hack occurred between March and May 20 this year. This was stated in a copy of the letter, which was posted on the website of the California attorney general.

Unauthorized persons exploited a flaw in the company’s SMS account recovery process to gain access to the accounts. The company said they then transferred the funds to crypto wallets not linked to Coinbase.

“We immediately corrected the error and worked with these customers to regain control of their accounts and compensate them for the funds they lost,” a Coinbase spokesperson said. The company said hackers need to know the email addresses, passwords and phone numbers associated with affected Coinbase accounts, and access personal emails. Coinbase said there is no evidence to suggest that the information was obtained from the company.

The news of the hack was previously reported by technology news portal Bleeping Computer.

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