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More than a thousand Coinbase users have been hacked in a phishing attack. What You Need to Know About Self-Defense

Details of a massive phishing assault in April and May of this year have been released by Coinbase. In a statement, Coinbase noted that “a notable rise in Coinbase-branded phishing communications targeting customers of a variety of regularly used email service providers.”

Phishing is the practice of sending fraudulent emails, text messages, or phone calls in the name of an honest company. Password or account data are then obtained by luring clients into divulging their personal and financial information.

Over 6,000 Coinbase users, according to Reuters, have been victimized by fraudsters. But frauds like these aren’t limited to bitcoin. For all enterprises, Tessian’s analysis reveals that in 2020, 75% of phishing attacks will be carried out through email, and 96% will come from outside the United States. visit now >>>

What scammers did to steal money from Coinbase customers.

Scammers pretending to be from Coinbase’s customer support or security department sent out various emails. When a user clicks on a link in an email, it would take their username and password. When one of the messages included an app, the hackers were able to get access to the recipients’ email accounts.

Once Coinbase passwords or email accounts were hacked, criminals might then proceed to rob their victims of their money. To prevent future assaults of this kind, Coinbase has ensured that the fraudsters did not penetrate the platform’s broader security protections.

How to avoid becoming a victim of phishing

Phishing and other forms of fraud may be prevented by being wary of emails and text messages you receive, particularly if they’re unexpected.

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To keep your accounts secure, here are a few tips:

  • No matter how respectable the sender may appear, never click on email links. As an alternative, you may simply bookmark the URLs of any sensitive websites, such as your bank or a cryptocurrency exchange. Your data will be safe from phishing sites since you’ll always know where you are when you enter their URL.
  • Make sure your communications are clear and concise. You should be wary of email addresses that seem to have typos or grammatical problems. It is pretty unlikely that a crypto platform would contact you over Gmail.
  • Open attachment is a bad idea. Opening an attachment from an unknown sender puts your machine at risk of infection.
  • Put in the second element of verification (2FA). An additional degree of protection, such as an SMS or email code, is used to verify your identity. Many sites also employ applications that produce authentication codes.
  • Make passwords as strong as possible. It may be challenging to keep track of all of our passwords. Avoid using the same password for many accounts or simply remembering, such as your date of birth or your kid’s name. It is possible to use a password manager installed on your computer or devise your method for generating and remembering all of your passwords.
  • Maintaining current versions of your anti-virus software is a must. To acquire your personal information, criminals continuously invent new techniques to get into your computer and take your data. This is why it’s essential to frequently check and update your computer’s antivirus software.

Be careful to change all of your passwords and report the fraud to the company and the Federal Trade Commission if you click on a malicious link or are a victim of a phishing scam by mistake. You may also wish to freeze your credit with the three leading credit agencies to prevent fraudsters from starting fake accounts in your name, depending on the stolen information.

Phishing and other types of online fraud are likely to rise as our society gets more digitally oriented. Those out there prey on those who don’t take precautions.