The crypto exchange Coinbase has revealed a recent incident on a few of its workers that involved data theft through spear-phishing emails.
One of the biggest cryptocurrency exchanges in the world, Coinbase, recently revealed that a couple of its employees were the victim of a hack. To let its consumers know about the event and reassure them that no cash were compromised, the company posted a statement on Twitter.
The attackers allegedly utilized spear-phishing emails to access the employees’ computers and take data. When the Multi-Factor Authentication security feature prohibited the hacker from accessing Coinbase’s internal systems using an employee’s username and password, the exploiter got in touch with the employee and pretended to be Coinbase’s IT department.
The victim was contacted via the company’s internal messaging system after Coinbase’s Computer Security Incident Response Team discovered the suspicious activity through its Security Incident and Event Management system.
The company’s security team quickly identified the intrusion and stopped additional damage by acting and isolating the compromised computers.
Coinbase made it clear that it takes security seriously and has put in place stringent safeguards to safeguard both its platform and the funds of its users.
Also, the business advised its clients to take their own security precautions carefully, including adopting two-factor authentication and being wary of phishing scams.
Despite the incident, Coinbase assured its users that the platform is still operational and they can use it normally. The business added that it is collaborating with law police to look into the event and find those responsible.
Unfortunately, cyberattacks are growing more frequent in the cryptocurrency sector, therefore exchanges need to be on guard and ready to respond to them.
It’s crucial for us as customers to prioritize our own security and take precautions to safeguard our belongings. Together, we can make sure that the cryptocurrency sector is safe and dependable for everyone.
