Coinbase Customers Hacked: MFA Flaw at Fault


Coinbase, an exchange for crypto, made their users aware of a breach that affected roughly 6,000 customers. There was a flaw found that allowed SMS verification to be bypassed. With an estimated 68 million users spread across the globe, this attack was on the small end of the spectrum. Still, we are impressed with Coinbase’s transparency and how quick they alerted affected customers.

Coinbase Review: Pros, Cons, and Who Should Set up Account



Coinbase stated that there was certain information needed to gain access to a customer profile. They would need a user’s email address, as well as password, and phone number. This information could be acquired from other breaches.

We urge people to use password managers for this very reason. Using the same password for every login is convenient, but it makes your account more susceptible to being accessed by others. If a password is compromised on a website, someone can try that password on other websites using the same email.

Coinbase, at this time, believes that it was a phishing campaign that targeted customers in order to steal this account information. Banking trojans that have been used for traditional accounts are also known to have impacted Coinbase accounts (source: BleepingComputer, 2021).


In the end, please refer to our blog for anything else regarding PC Swaps, where we have answers to a lot of frequently asked questions as well as guides for getting your account set up. Secondly, please do not hesitate to email us at with any other issues. Thirdly, you can also message us on socials, and we will get back to you as soon as possible. Moreover, if you have any other issues there are multiple platforms you can reach out to us on!

Do you have any comments or concerns about the platform? Please reach out to us. We would love to hear your thoughts and feedback and a buyer or seller on our platform. Also, be sure to check out our Discord where we have a strong community. We talk about current tech news as well as take part in Among Us and other game nights! We are always looking for more people to join the platform as well, so please tell your friends! As always thank you for being a part of this community.