Coinbase reveals cyberattack on employees

Coinbase reveals cyberattack on employees

Cryptocurrency exchange, Coinbase, has disclosed a recent cyberattack on some of its employees, using spear-phishing emails to steal data.

Coinbase, one of the largest cryptocurrency exchanges in the world, recently disclosed a cyberattack that targeted a few of its employees. The company issued a statement on Twitter to inform its customers about the incident and reassure them that no funds were compromised.

Coinbase employees under attack

According to Coinbase, the attackers used spear-phishing emails to gain access to the employees’ devices and steal data.

The hacker attempted to gain access to Coinbase’s internal systems using an employee’s username and password, but the Multi-Factor Authentication security measure prevented them from doing so, prompting the exploiter to contact the employee and pose as Coinbase’s IT department.

Coinbase’s Computer Security Incident Response Team detected the unusual activity through its Security Incident and Event Management system and reached out to the victim via the company’s internal messaging system.

The company’s security team detected the attack immediately and prevented further damage by taking action and isolating the affected devices.

Coinbase emphasized that it takes security seriously and has strict measures in place to protect its platform and users’ assets. The company also encouraged its customers to take their own security measures seriously, such as using two-factor authentication and being cautious of phishing attempts.

Despite the attack, Coinbase assured its users that its operations are unaffected, and they can continue to use the platform as usual. The company also stated that it is working with law enforcement to investigate the incident and identify the culprits.

Cyberattacks are unfortunately becoming more common in the cryptocurrency industry, and exchanges must remain vigilant and prepared to prevent and respond to them.

As customers, it’s important to take our own security seriously and take steps to protect our assets. By working together, we can help ensure that the cryptocurrency industry remains secure and trustworthy for everyone.

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