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I have recordings proving Coinbase knew about breach months before disclosure

(jonathanclark.com)
685 points jclarkcom | 7 comments | 16 Nov 25 20:18 UTC | HN request time: 0.019s | source | bottom
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chaps ◴[16 Nov 25 20:59 UTC] No.45948347[source]▶
Once did some programming/networking work for a company that did the networking of a office sharing building that Coinbase was running out of. Early in my work there I noticed that the company had its admin passwords written on a whiteboard -- visible from the hallway because they had glass for walls. So I sent them an email to ask that they remove it (I billed them for it).

Their fix was to put a piece of paper over the passwords.

What a time.

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650REDHAIR ◴[16 Nov 25 21:08 UTC] No.45948413[source]▶
This doesn’t surprise me at all.

Bitcoin, and really fintech as a whole, are beyond reckless.

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monero-xmr ◴[16 Nov 25 21:10 UTC] No.45948422[source]▶
Ah yes, I remember all the times they hacked bitcoin
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1. 8organicbits ◴[16 Nov 25 21:24 UTC] No.45948530[source]▶
There's a great index of hacks here https://www.web3isgoinggreat.com/?theme=hack

It's breathtaking how frequent these are.

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2. happyopossum ◴[16 Nov 25 21:33 UTC] No.45948614[source]▶
That’s like saying the $USD was hacked when a bank gets breached.
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3. braingravy ◴[16 Nov 25 21:52 UTC] No.45948752[source]▶
Are banks breached at the same rate as bitcoin brokers? I think that was op’s point.
4. 8organicbits ◴[16 Nov 25 22:20 UTC] No.45948979[source]▶
That's a silly assumption to make. I'm clearly talking about the poor security offered by cryptocurrency, in practice, as evidenced by the frequent hacks impacting cryptocurrency companies.
5. CPLX ◴[16 Nov 25 23:06 UTC] No.45949277[source]▶
No. It's like saying that cash is risky when a bunch of cash gets stolen or lost.
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6. shadowgovt ◴[17 Nov 25 03:41 UTC] No.45950670[source]▶
When a bank gets breached, there are mechanisms to make the victims whole, up to and including "Just print money; it's a fiat currency."

No such mechanisms in Bitcoin, so hacks have longer-term impact.

7. johnisgood ◴[17 Nov 25 11:52 UTC] No.45952823{3}[source]▶
Which it does. :D