Hackers withdrew funds from 6 000 Coinbase exchange accounts – Bits Media

In the system of multifactor authorization of the Coinbase exchange, an error was found, thanks to which hackers were able to access 6 000 User accounts and withdraw funds from them.

According to the second largest cryptocurrency exchange in the world, Hackers used vulnerability in the period from March to May 2021 of the year. They were able to go around the double -factor authorization system using SMS and withdraw cryptocurrencies from 6 000 accounts. At the same time, to receive access to the account, hackers should have known the user email address, password and tied phone number.

It is still unknown, how exactly attackers received the above data. More likely, Fishing sites and mailings for data strokes were used. Besides, perhaps, Part of the data was obtained using Trojan software.

In a normal situation, even with such data, hackers could not access user funds. However, in the system for restoring access to the account using SMS, an error was found, which allowed attackers to get token to authorize on the platform. In addition to access to funds, Hackers gained full access to user information.

Note, that after the detection of vulnerability, Coinbase experts quickly corrected it, And users, who suffered from the actions of hackers, received or receive reimbursement of lost funds in full.

In August 125 000 Coinbase exchange users mistakenly received letters with a message about changing the settings of two -factor authentication. This was panic, and some even sold their assets.