Key Sentence:
- A major cryptocurrency exchange mistakenly emailed 125,000 users, falsely informing them that their two-factor authentication settings had changed.
Coinbase said the email was “not the result of malicious behavior. With two-factor authentication, users must enter information such as a text code in addition to a password. And the warning caused concern among many users who feared their accounts had been hacked.
In most cases, only someone with access to the account Coinbase can change two-factor authentication settings.
“Build trust”
The company said the bug was due to a problem with the notification system. See the original tweet on Twitter.
And a post from a moderator support account on Reddit shows that the company is “lending a small number of users” affected by $100 worth of Bitcoin. Coinbase saw rapid growth recently, telling that it had increased more than 43 million registered users to 68 million by the end of June 2020.
He was taken aback.
Nearly four months have passed, and it still has to come down, he said. Tanya and Jared Vidovic made cryptocurrency investments in 2017, monitoring their funds almost four times in four years. Vidovich used Coinbase, the nation’s largest cryptocurrency exchange, to dive into virtual currencies. Exchanges like Coinbase allow consumers to deposit dollars and trade for cryptocurrencies like Bitcoin and Etherium, which the pair buys.
“I checked Coinbase, and it looks like it’s one that everyone uses and trusts,” says Tanya.
But in late April, Tanya, a firefighter, opened her computer to a series of security alerts and password change notifications.
“I got into crypto.
The visionaries said they tried to contact Coinbase but couldn’t reach anyone by phone. Where users suddenly saw money disappear from their accounts, followed by poor service to Coinbase customers that left these users hanging and angry.