A recent data violation of Crypto Exchange Coinbase has raised concerns about user safety after hackers obtained access to sensitive information, including home addresses.
Coinbase, the third of the largest cryptocurrency exchange, confirmed that less than 1% of transacting monthly users have been affected by an attack that can cost to Replace up to $ 400 million At payment costs, Cointelegraph reported on May 15.
However, the “human cost” of breaking this data may be higher for users, according to Michael Arrington, the founder of Techcrunch and Arrington Capital.
“Coinbase is so frustrated today. Using the cheapest option for customer service is price,” Arrington said on a May 20 X PostAdding:
“One thing to say even – this hack – which includes home addresses and account balance – will lead to people dying. Perhaps there is.”
While without passwords, private keys or account funds are exposed, cybercriminals have been reported to be bribed to foreign customer service contractors to access internal systems. They were allowed to steal personal data that could be used in social engineering scams or even physical extortion attempts.
Related: Hoskinson promises to be audited, is ‘deeply injured’ by $ 600m Cardano Treasury Claims
With bitcoin (Btc) Trading above $ 100,000, have the wealth of crypto be a growing target for criminals. Experts warn that address leakage data can expose high-worm-worm individuals.
On May 16, Cointelegraph reported Six violent robbery Those are the targeted cryptocurrency investors, aimed at eliminating digital assets by kidnapping or torture.
In a ruthless attack on May 4, the father of a French crypto businessman was Abduct in Paris, France. The kidnappers cut the victim’s finger and sent a video to his son, demanding 5 million euros to crypto.
The victim was held for two days before the French police found and rescued him. According to CNN, five people are Arrested Related to kidnapping.
Related: US crypto funds are top $ 7.5B flowing in 2025 as the investor’s appetite is increasing
Crypto exchanges require “layered” cybersecurity
To prevent similar violations of user data, crypto exchanges need to adopt a “layered defense strategies,” according to Ronghui Gu, co-founder of the Certik Web3 Security Firm.
“It can include the privileged management of accessing, zero architectural confidence, multifactor validation on internal systems, and ongoing monitoring of behavior,” Gu told Cointelegraph, addition:
“Preventive measures such as regular phishing simulations, tailored security exercises, and restricting third-party access to sensitive systems can help reduce these risks.”
However, crypto platforms will need to “re -think their security posture” as attacks “more target human weaknesses rather than technical ones,” Gu added, warning the rising threat of social engineering schemes.
Social engineering schemes, such as Phishing scam, is The most significant security threat of 2024, worth the industry of more than $ 1 billion in the entire 296 incident, according to Certik.
https://www.youtube.com/watch?v=HVOQJ4XS88s
Magazine: Altcoin season to hit in Q2? Mantra plans to win trust: Hodler’s Digest, April 13 – 19
