ZachXBT: The exchange's phone verification mechanism has serious security risks. Fake Coinbase calls and text messages have led to the theft of a large amount of funds

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According to ChainCatcher, crypto detective ZachXBT commented on Coinbase's recent user data leak, pointing out that the exchange's requirement to provide phone numbers is extremely unsafe. He emphasized that scammers have caused massive fund theft by forging phone calls and text messages appearing to be from "Coinbase".

ZachXBT stated that since most people have only one phone number and many websites require it, these numbers ultimately get exposed in data breaches, making it almost impossible for technically inexperienced users to defend against such attacks. Previous reports suggested that some attackers obtained information by bribing Coinbase employees, specifically targeting high-net-worth account users with 7-8 digit assets.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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