Coinbase confirms fake security notifications to 125,000 accounts

Coinbase Acknowledged A Bogus Security Message That Was Sent To 125,000 Customers Alleging That ir Title Settings Had Changed.

In a comment to CNBC, the cryptocurrency exchange claimed that the message was the result of an internal error. company noted that it was not a hostile actor. “All of a sudden, the system started sending things like a bug to the system, but it wasn’t a malicious or third-party bug,” a spokesperson commented.

Coinbase is the largest exchange in the United States, so a system-wide third-party engagement would reach a substantial portion of the American crypto community. exchange spent the weekend reassuring its clients that it was just an internal mistake. “We believe the only way to build trust with our customers is to be transparent when we mess up,” said Coinbase spokesman Andrew Schmitt.

bogus message appeared at 1:45 pm on Friday. message said, “Two-Step Verification settings have been changed.” Of course, users rushed to customer service concerned.

Shortly after the bug, the exchange tweeted a series of messages to its community to clarify the incident. “We are focused on building trust and security in the crypto community so that the open financial system that we all want becomes a reality. We recognize that issues like this can damage that confidence. “

Coinbase Expands Despite Recent Incidents

se incidents follow reports of theft from Coinbase users last week. According to a CNBC study, interested Coinbase users said the exchange lacked quality customer service. However, the exchange has seen a 500% increase in hires since the beginning of the year. Most of the hiring has focused on support staff.

Read also Commonwealth Bank (CBA) of Australia will allow its clients to hold and use bitcoins and other cryptocurrencies

Despite some flaws in Coinbase operations in recent weeks, the company has reached a major agreement with the US government.In early August, the US Immigration and Customs Services purchased the software. Coinbase Forensic.

Previously, the exchange integrated two tech giants into its payment systems. Apple Pay and Google Pay are now available to Coinbase users for cryptocurrency purchases. As the business continues to expand, more attention will need to be paid to safety and user support.

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