ZachXBT: The exchange's phone verification mechanism has serious security vulnerabilities, and forged Coinbase calls and messages have led to significant funds being stolen
ChainCatcher message, crypto detective ZachXBT commented on the recent user data breach incident at Coinbase, pointing out that the exchange's practice of requiring phone numbers is extremely unsafe. He emphasized that scammers have stolen large amounts of money by spoofing calls and texts that appear to be from "Coinbase."ZachXBT stated that since most people have only one phone number and many websites require it, these numbers eventually get exposed in data breaches, making it nearly impossible for technically inexperienced users to defend against such attacks. Previously, reports indicated that some attackers obtained information by bribing Coinbase employees, specifically targeting high-net-worth account users with 7-8 figure assets.