Coinbase hacked - 15-5-2025

The hackers only got some personal information of Coinbase customers which I assume they would use to carry out phishing/social engineering attacks. Hopefully if everyone is careful not to respond to those types of attacks they would remain safe.

wtf is this man, mandatory to use hardware wallet
True, hardware wallet is better of course, not reliant upon any third party. But the downside is that you are responsible for all of your security (Fine if you are competent but if not then it could be a greater risk).
 
Good to know that user funds were not compromised, but it's an alert for people who are still leaving their crypto money on exchanges
 
They didn’t really get a hold of any funds, they supposedly bribed their way into gaining access to coinbase’s customer data. Atleast that’s what the news outlets reported.
 
everything online especially passwords, 2fa are more vulnerable to attacks.
The only thing harder to hack is OTP on mobile number
 
This is one of the reasons it is idiotic to cooperate with KYC demands.

3rd party adversaries is one.

The other reason is the 1st parties collecting KYC information could be the aggressors, stealing your money against your will, with the backing of their own laws. I have zero sympathy for sheep who give up their information to KYC requests, you put us all in danger.
 
At no point do they admit they are to blame for collecting customer information in the first place, which put them all in danger. Never, EVER, give your KYC information to anyone company, government or even friend online.
for better crypto liquidty, trading pairs and lowest fee, we have to do kyc to trade on most of the cexes present today, lack of enough liquidity on dexes is the reason people cant use them to its fullest, unless dexes match the features of the cexes, cexes maybe a go to option for many unfortunately
 
This is another friendly reminder from real world: store your crypto on cold wallets, do not keep it on exchanges.
 
for better crypto liquidty, trading pairs and lowest fee, we have to do kyc to trade on most of the cexes present today, lack of enough liquidity on dexes is the reason people cant use them to its fullest, unless dexes match the features of the cexes, cexes maybe a go to option for many unfortunately
We don't "have to" do anything. The reason KYC is prevalent is because the sheep cooperated with it like obedient slaves.
 
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