Payam Javan: According to a breach notification letter issued by the cryptocurrency exchange to affected Coinbase Global Inc users, hackers stole from at least 6,000 accounts.
According to a copy of the letter released on the Attorney General’s website, the hack occurred between March and May 20 of this year.
According to the company, unauthorized third parties used a flaw in the company’s SMS account recovery process to obtain access to the accounts and transfer funds to crypto wallets not affiliated with Coinbase.
“We immediately fixed the flaw and have worked with these customers to regain control of their accounts and reimburse them for the funds they lost,” a Coinbase spokesperson said on Friday.
The hackers are required to know the email addresses, passwords, and phone numbers associated with the affected Coinbase accounts, as well as access to personal emails, according to the company.
According to Coinbase, there is no proof that the information was taken from the company.