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Coinbase says hackers bribed staff to steal customer data, demanding $20M ransom

(www.cnbc.com)
410 points gpi | 2 comments | 15 May 25 15:52 UTC | HN request time: 0.636s | source
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thepasswordis ◴[15 May 25 16:40 UTC] No.43996769[source]▶
The problem is that it seems like the data that leaked is also the data that would be used to do account recovery.

And what that means is that

1) If you lose access to your account (through either your own fault, or coinbases fault) that the process of recovering it may not be so straightforward anymore.

2) Hackers can try to “recover” accounts now using this leaked info.

This is a huge problem. What coinbase needs are IRL offices where you can go and do things like account recovery, and where people trying to steal money can be caught and prosecuted (and makes a huge barrier for the overseas thieves who are usually doing this)

The only solution here is: hardware 2 factor like yubikeys.

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piva00 ◴[15 May 25 16:43 UTC] No.43996798[source]▶
> What coinbase needs are IRL offices where you can go and do things like account recovery, and where people trying to steal money can be caught and prosecuted (and makes a huge barrier for the overseas thieves who are usually doing this)

That's just a bank.

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lovich ◴[15 May 25 18:37 UTC] No.43997941[source]▶
Watching crypto enthusiasts run into every problem that society already tackled with in the past when developing currency and its controls, and then coming up with solutions that look exactly the same as what dirty fiat currency uses, has been a source of much entertainment the past few years
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voidspark ◴[15 May 25 18:48 UTC] No.43998063[source]▶
This is an exchange problem, not a crypto problem. You don’t need an exchange to hold crypto.
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lovich ◴[15 May 25 18:59 UTC] No.43998173[source]▶
Yes, I think I’m familiar with the crypto enthusiasts defenses that all boil down to looking at a single aspect of their system in a vacuum and not realizing that if anyone wants to functionally use crypto as a currency and not as a speculative asset or tool in crime, then all these aspects actually have to work and work together
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voidspark ◴[15 May 25 19:02 UTC] No.43998201[source]▶
I don't really care about crypto personally (volatile shitcoins) but I think that's a straw man argument. They all know it gets troublesome when it comes to dealing with fiat transactions. The hardcore crypto enthusiasts want to avoid fiat entirely.
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1. davidcbc ◴[15 May 25 20:43 UTC] No.43999150[source]▶
If only hardcore crypto enthusiasts who didn't want any fiat had cryptocurrency bitcoin would be worth a couple dollars a piece and 99% of other cryptocurrencies wouldn't exist. The vast vast majority of people who have crypto are doing it because they think they can get rich from it and that's why anytime it's talked about it's talked about in terms of fiat values
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2. ◴[15 May 25 20:52 UTC] No.43999233[source]▶