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Coinbase says hackers stole cryptocurrency from at least 6,000 customers By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: A logo representing Coinbase Global Inc. is shown on the Nasdaq MarketSite and other Times Square displays in New York. This was taken April 14, 2021. REUTERS/Shannon Stapleton/File Photo

(Reuters) – Hackers stole funds from at least 6,000 Coinbase Global Inc customers, according to a notification sent by Coinbase to the affected customers.

The hack took place between March and May 20 of this year, according to a copy of the letter https://oag.ca.gov/system/files/09-24-2021%20Customer%20Notification.pdf posted on the website of California’s Attorney General.

According to company, unauthorized third party exploited flaws in company’s SMS account Recovery process to gain access and to transfer funds to cryptocurrency wallets that are not associated with Coinbase.

Coinbase spokesperson stated that they had fixed the issue immediately and worked with customers to help them regain control and recover the funds lost.

The company stated that hackers had to be able to access personal email accounts by knowing the phone numbers, emails addresses, and passwords linked to Coinbase accounts.

Coinbase claimed that no evidence was available to support the claim.

Bleeping Computer reported the news of hacking earlier.

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