7 ms·
Hackers drain cryptocurrency accounts of thousands of Coinbase users
- ramesh31 5y agoIf you're not running a full node on your own encrypted hardware, you shouldn't be doing anything but playing with crypto. It's almost as if the current financial system evolved over hundreds of years of hard lessons learned to have certain tradeoffs like reversible transactions that mitigate this threat for the general populace.
- GoblinSlayer 5y agoYou wouldn't need deposit insurance if transactions were reversible.
- paunthony 5y agoEven 2FA's aren't safe from the hackers and to think that it is coming from Coinbase.
- Dracophoenix 5y agoMt. Gox Part Deux. This is why I go by the adage "If you don't own the keys, you don't own the crypto".
- Semaphor 5y agoAs much as I agree in general, if you own the keys and fuck up, then there would be no one to make you whole.
- fastball 5y agoThis is almost nothing like Mt. Gox.
- dna_polymerase 5y agoYou either didn’t bother to read the article or you have no idea what happened to Mt. Gox. Either way, you are wrong.
- taylorfinley 5y agoThis was posted a few days ago with a much less sensational headline. Also important to note it was 6,000 users and Coinbase has made them all whole. https://news.ycombinator.com/item?id=28719786 https://news.ycombinator.com/item?id=28719786
- 2muchcoffeeman 5y agoWhat does “made whole” mean here? They transferred the missing crypto to the users?
- Mordisquitos 5y agoI'm also curious as to why I keep seeing the vague and somewhat uncommon expression "to make whole" in relation to the Coinbase breach. I have neither the time nor the interest to dig into the matter, but my astroturfey-senses are tingling.
- poopsmithe 5y agoI've heard the term used in libertarian circles. I think it's justice without punishment. Instead of the offender being slapped on the wrist, imprisoned etc., the offender must work to restore the victim to how they were prior to the offense.
- taylorfinley 5y ago"(transitive, finance, law) To provide (someone), especially under the terms of a legal judgment or an agreement, with financial compensation for lost money or other lost assets." https://en.wiktionary.org/wiki/make_whole https://en.wiktionary.org/wiki/make_whole
- collectedparts 5y agoDiscussion last Friday (re: California notice): https://news.ycombinator.com/item?id=28719786 https://news.ycombinator.com/item?id=28719786
- q1w2 5y agoThat notice is toes the line between disclosing the absolute minimum and remaining compliant. They never deny being hacked, but never admit it either. ...and they pretend that it was likely all the users' fault.
- Trias11 5y agoPerson I know tried to reach Coinbase support human to no avail. He searched google for "coinbase support number" and dialed the number found. Friendly operator guided him to solve a problem. $50k lesson learned.
- q1w2 5y agoThis problem isn't specific to Coinbase.
- vntok 5y agoDid he solve the problem?
- celticninja 5y agoYes, now he has no cryptocurrency so now he has no problem.
- martinko 5y agoI take it the number was fake and that he lost his money.
- jcun4128 5y agoThe reddit coinbase/pro sub, there are scam accounts on there that message you "Hi this is official support" something along those lines.
- Trias11 5y agoOn pretty much every crypto exchange telegram support channel - the moment you ask question - some friendly "support admin" will try to contact you and "help".
- qzw 5y agoHe should invoice Amazon for establishing the perverse norm where googling-for-support-contact is the only way to find such info.
- Factorium 5y agoCryptocurrencies should be banned. Waste of human effort, advanced manufactured goods, and electricity.
- gvv 5y agoBanks should be banned. Waste of human effort, advanced manufactured goods, and electricity.
- Uptrenda 5y agoIf this is the same SS7 protocol flaw that security experts have been using to justifiably avoid SMS in 2-factor auth schemes forever now it's face palm inducing. Not that this sounds like a simple hack if they also compromised inboxes. Sounds like the victims were already very well owned at that point. Lesson learned I guess. I wonder how much it cost Coinbase.
- didntknowya 5y agoat this point i'd just expect any exchange to be breached at some stage. if you want to be be safe you should store your crypto in cold storage rather than online