Lessons to learn from Coinbase phishing attacks

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#Oracle #Coinbase #cryptocurrency

Coinbase phishing attacks


Coinbase, is a platform used for buying, selling, and storing #cryptocurrency. The company had announced that a threat actor stole cryptocurrency from 6,000 customers after using a vulnerability to bypass the company's SMS multi-factor authentication security feature. Coinbase is the world's second-largest cryptocurrency exchange, with approximately 68 million users from over 100 countries. It explains that between March and May 20th, 2021, a threat actor conducted a hacking campaign to breach Coinbase customer accounts and steal cryptocurrency. Coinbase says the attackers needed to know the customer's email address, password, and phone number associated with their Coinbase account and have access to the victim's email account. While it is unknown how the threat actors gained access to this information, Coinbase believes it was through phishing campaigns targeting Coinbase customers to steal account credentials, which have become common. Additionally, banking trojans traditionally used to steal online bank accounts are also known to steal Coinbase accounts.



Third parties first gained access to the email address, password, and phone number of the affected Coinbase customer in order to access to enter their accounts. The company said it wasn't sure how third parties got this access, and that it could have happened either through a phishing attack or another social-engineering technique. Coinbase says that it updated its SMS Account Recovery protocols as soon as it became aware of the problem. The company is encouraging customers to secure their accounts with a TOTP (time-based one-time password) or a hardware security key. And, of course, recommends changing your current password.

· Be on guard for phishing attacks and use a way to automatically block a phishing attempt.

· People should consider alternatives to SMS authen.

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  • Watch Lessons to learn from Coinbase phishing attacks Video
    Lessons to learn from Coinbase phishing attacks

    #Oracle #Coinbase #cryptocurrency

    Coinbase phishing attacks


    Coinbase, is a platform used for buying, selling, and storing #cryptocurrency. The company had announced that a threat actor stole cryptocurrency from 6,000 customers after using a vulnerability to bypass the company's SMS multi-factor authentication security feature. Coinbase is the world's second-largest cryptocurrency exchange, with approximately 68 million users from over 100 countries. It explains that between March and May 20th, 2021, a threat actor conducted a hacking campaign to breach Coinbase customer accounts and steal cryptocurrency. Coinbase says the attackers needed to know the customer's email address, password, and phone number associated with their Coinbase account and have access to the victim's email account. While it is unknown how the threat actors gained access to this information, Coinbase believes it was through phishing campaigns targeting Coinbase customers to steal account credentials, which have become common. Additionally, banking trojans traditionally used to steal online bank accounts are also known to steal Coinbase accounts.



    Third parties first gained access to the email address, password, and phone number of the affected Coinbase customer in order to access to enter their accounts. The company said it wasn't sure how third parties got this access, and that it could have happened either through a phishing attack or another social-engineering technique. Coinbase says that it updated its SMS Account Recovery protocols as soon as it became aware of the problem. The company is encouraging customers to secure their accounts with a TOTP (time-based one-time password) or a hardware security key. And, of course, recommends changing your current password.

    · Be on guard for phishing attacks and use a way to automatically block a phishing attempt.

    · People should consider alternatives to SMS authen

    Technology video | 87 views

  • Watch COINBASE 2FA SETUP || HOW TO ACTIVATE 2 FACTOR AUTHENTICATOR IN COINBASE EXCHANGE Video
    COINBASE 2FA SETUP || HOW TO ACTIVATE 2 FACTOR AUTHENTICATOR IN COINBASE EXCHANGE

    The DINESH KUMAR walks you through the basic steps of enabling 2-factor authentication for a Coinbase account. It is the easiest way to purchase Bitcoin, Bitcoin Cash, Ether, or Litecoin. If you would like to explore the Coinbase website, you can go here:- https://goo.gl/tKvEpM

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    Bitcoin is a new technology that functions as a digital currency. It is a peer-based, decentralized way to hold, store, send, and receive value. It does this by maintaining a cryptographic “ledger” called the Blockchain. All of the bitcoins in existence are created and stored on the Blockchain.

    Bitcoin with a capital “B” refers to the technology itself. Bitcoin spelled with a little “b” refers to the tokens that hold the value and can be exchanged with others.
    Multiple copies of the Blockchain exist on thousands if not millions of computers worldwide. Each copy of the Blockchain “verifies” itself by connecting to the Internet and making sure it has the most up-to-date list of transactions. The Blockchain maintains its integrity by using strong, modern, encryption techniques. This makes it impossible for anyone to alter the ledger, create fake transaction or “double-spend” their bitcoins.

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    COINBASE में REGISTER कैसे करें? || COINBASE EXCHANGE FULL REGISTRATION PROCESS

    Hi Friends i show you in this video about Coinbase Registration Process Step by Step in hindi/urdu by dinesh kumar.

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    You should consider signing up for Coinbase if you're interested in buying Bitcoin, Ethereum, or Litecoin. The reason being is that when you register for Coinbase your money is FDIC Insured up to $250,000.

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  • Watch Increasing social engineering attacks - Smishing, vishing, and phishing | VARINDIA News Hour Video
    Increasing social engineering attacks - Smishing, vishing, and phishing | VARINDIA News Hour

    Increasing social engineering attacks - Smishing, vishing, and phishing | VARINDIA News Hour

    We live in a world that’s becoming more digitally dependent. Right from our social interactions to professional interchanges and financial transactions, most take place digitally. Smishing and vishing are two types of fraud that use SMS (smishing) and voice (vishing) to trick people into giving up money or personal information. They’re “social engineering attacks,” meaning that in a smishing or vishing attack, the attacker uses impersonation to exploit the target’s trust. Because 96% of phishing attacks arrive via email, the term “phishing” is sometimes used to refer exclusively to email-based attacks. A recent survey revealed some alarming numbers about Indian companies managing personal identifiable data and electronic health records. While digital resources are enabling, they also leave us vulnerable to cyber criminals as a lot of information regarding our personal and professional lives rests in the digital domain. Cyber insurance or cyber security insurance provides coverage from activities such as identity theft, unauthorized transactions, and more. Buying a cyber insurance policy can safeguard against online frauds. The policy can be bought by anyone who is 18 years and above and can be bought for family members. Nearly 58% of Indian companies have not opted for cyber insurance yet, indicating lack of awareness about cyber-attacks and cyber risk management strategies. The survey by RIMS and JB Boda Group says, as more attacks on utilities and industrial systems emerge, with Ransomware involved, it no longer is an IT related issue, but of the CFO and board.

    The COVID-19 pandemic has triggered digital transformation across companies, leading to the creation of a complex IT landscape in the form of public clouds, unfamiliar home networks, external systems connected through APIs, along with a plethora of access points into their sphere of monitoring and

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  • Watch Phishing attacks threatening industries Video
    Phishing attacks threatening industries

    Anyone who uses the internet or phones can be a target for phishing scammers. In the last year, cyber criminals delivered a wave of cyberattacks that were not just highly coordinated, but far more advanced than ever before seen. #Cybersecurity incidents are not only growing more prevalent but are also becoming more costly.

    Simple endpoint attacks became complex, multi-stage operations. Ransomware attacks hit small businesses and huge corporations alike. Crypto-mining attacks gave cyber criminals an easy foothold into company networks.

    Across the web, phishing attacks have baited unsuspecting victims into handing over bank info, social security numbers, and more. Plus, cybercriminals have become even savvier with their disguises. Sometimes these scams hide behind voices you know and trust, like your co-workers, your bank, or even your government. If you so much as click a link, you could be the scammer’s next victim.

    The most common scenario is:

    · You open your email and suddenly an alert from your bank appears in your inbox. When you click the link in the email, you are taken to a webpage that looks, more or less, like your bank.

    · Here’s the catch: this site is actually designed to steal your information. The alert will say there is a problem with your account and ask you to confirm your login and password.

    · After entering your credentials on the page that appears, you are usually sent to the actual institution to enter your information a second time. By steering you to the legitimate institution, you don't immediately realize your information was stolen.

    LinkedIn is a tempting target to spoof because the networking site often sends out emails with updates about your profile, your job search results and other topics. Since LinkedIn users are comfortable receiving emails, cybercriminals can more easily send out messages with links to phishing sites.

    #Microsoft was the second most spoofed b

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  • Watch New tricks to deliver phishing attacks Video
    New tricks to deliver phishing attacks

    Cyber criminals are trying new methods to help ensure phishing attacks are successful. The phishing emails infect victims with malware -- and they're doing so by experimenting with a new method of delivering the malicious payload. India has become one of the most frequently targeted countries for ransomware attacks this year.


    As per the report from Proofpoint, there's been a rise in cyber attackers attempting to deliver malware using OneNote documents, a digital notebook signified by .oneextensions that is part of the Microsoft 365 office applications suite.


    The question is why is phishing so favourite among black hats?


    Because it plays as what has been often described as cybersecurity’s “weakest link”. The 2022 DBIR revealed, 82% of breaches involved the human element, and that largely means employees being duped into clicking on malicious links and diving into fraudulent sites.


    That's why it’s important that all companies know how to spot some of the most common phishing scams if they are to protect their corporate information. It’s also crucial that their employees are familiar with some of the most common types of techniques that malicious actors use to pull off these scams.


    After all, they are the ones on the front line. However, it’s unfair to put all the blame on humans as weak security measures account for much of the exploits that slip through. A person can’t click on what’s not there, so email security platforms, digital risk protection, and anti-phishing solutions are a key element. However, you can’t defend against what you don’t understand.


    Researchers warn that it's likely these campaigns have a high rate of success if the emails aren't blocked -- and that more cyber-threat groups are likely to adopt this technique to successfully deliver phishing and malware campaigns.

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