Thousands of Coinbase wallets drained by hackers

Coinbase, the cryptocurrency platform used for buying coins like Bitcoin, Ethereum and others, has suffered a hack that’s affected 6,000 users, completely draining their accounts. 

Coinbase sent a document to users, as reported by our sister-site Techradar, telling them that all their funds had been drained by taking advantage of the company’s two-factor authentication (2FA) and using phishing attempts to gain access to passwords. The attacks took place between March and May of 2021. 

The reason this attack wasn’t more widespread was because the hackers needed some very specific information before going after someone. This meant knowing a user’s email address, password and phone number, as well as access to personal email accounts. 

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