Coinbase faces significant criticism following a security breach that exposed user data, with authorized access attributed to bribed employees. Experts emphasize the urgent need for enhanced security measures, particularly against vulnerabilities linked to phone-based two-factor authentication.
The breach resulted in a $34.9 million loss for one user, prompting discussions on the reliance of these security methods. Coinbase has advised using stronger authentication methods to better protect accounts.
Continued scrutiny and upgraded security practices are essential within the crypto industry to prevent such incidents and protect users from scams.
Full story here: https://coincu.com/337936-coinbase-breach-security-phone-risk