Post
Topic
Board Bitcoin Discussion
Re: 6000 coinbase clients hacked
by
TheGreatPython
on 08/10/2021, 21:21:26 UTC
Another example why using central exchanges is risky. The hackers knew private data of the users. One corrupt employee or one successful hack and bad guys capture your email, home address, phone number and sell it to local criminals who might knock on your door then best encrypted wallets are useless. Cryptocurrencies are designed for peer to peer usage. If you change it into peer to bank to peer then this adds some risks.

https://www.reuters.com/business/finance/coinbase-says-hackers-stole-cryptocurrency-least-6000-customers-2021-10-01/
So since this happened what has Coinbase done about the users that were affected? Because 6000 is not a small number so I know that it’s going to be difficult for Coinbase to do something about this, unless maybe with time they might be able to settle all this users for the losses that they have been through on their platform. Making use of centralized platforms has always been a huge risk in the sense that when these centralized platforms gets hacked by any group of hackers they have access immediately to the user's database.

And just like you have said a bad employee in the company can be stealing information and selling it to bad people who might decide to hack with whatever information that belongs to the users. So it’s very best that people learn to secure their assets and make sure they’re using the best practices.