THELOGICALINDIAN - A bug could accept absent the users of Coinbase a lot of money confesses the barter itself in its latest blog post
Coinbase Holds Its Hands Up
The Friday “post mortem” appear that an absurdity on Coinbase sign-up folio adored customers’ advice on Coinbase centralized web server logs – in a bright text. So a countersign autograph which, say, looks like “123456” was actualization like “123456” to the agents at the San Francisco-based cryptocurrency firm. Ideally, it could accept been hashed into non-readable text.
The bug, Coinbase admitted, afflicted 3,420 barter in total. Excerpts from their statement:
The barter said users who resubmitted the anatomy had their countersign and added capacity hashed securely. Unfortunately, the 3,420 customers, as mentioned above, accidentally logged their clandestine abstracts assimilate Coinbase servers.
No Damage Reported
Coinbase behaved like a acceptable Samaritan and anchored the affair on top priority. The close asserted that they traced the absolute band of accumulator to affirm that it was not captivation any of customers’ claimed information.
The close additionally triggered a countersign displace for afflicted customers. It asserted that a countersign abandoned could not accept a abeyant hacker abduct their bitcoins, answer that they assure anniversary annual with binding email and 2FA authentications.
Still Secure
The active came at a time back institutional investors are demography accurate accomplish appear introducing bitcoin in their portfolio. Security, nevertheless, has remained one of their top concerns, accustomed the cryptocurrency custodians’ history of absolution hackers abduct billions of dollars account of assets appropriate beneath their nose.
Coinbase, a US-regulated entity, has never been hacked. The barter maintains commercial, bent allowance – an accumulated bulk that is greater than the amount of the agenda bill it keeps in online storage.
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