According to a security statement provided to consumers impacted by the incident, hackers took funds from the accounts of at least 6,000 clients at the cryptocurrency brokerage Coinbase on Friday (1).
According to Coinbase, the theft took place between March and May of this year, when unauthorized third parties took advantage of a weakness in the firm’s account recovery procedure to obtain access to victims’ accounts and move funds to bitcoin wallets not affiliated with the company.
According to the Reuters news agency, a Coinbase representative said, “We quickly rectified the vulnerability and began to work with these clients to recover control of their accounts and compensate them for lost cash.”
Coinbase further explained that hackers needed to know emails, passwords and phone numbers associated with accounts to managed to carry out the attack as it was done. This raises questions of how hackers managed to apply the scam, with discussions on the net of which employees could be involved in the case. Nevertheless, the brokerage stated that there is no evidence to indicate that the information was obtained from the company .
Coinbase shares traded on the New York Stock Exchange closed with a high of 1.61% this session, following the very positive day market attainment, quoted at US$ 231.15. (With Reuters)
