TechFlow, May 16 — Cryptocurrency investigator ZachXBT commented on Coinbase's recent user data breach, pointing out that the exchange's practice of requiring phone numbers is extremely insecure. He emphasized that scammers have already stolen significant amounts of funds by spoofing calls and text messages displaying "Coinbase." ZachXBT noted that since most people have only one phone number and many websites require it, these numbers eventually get exposed in data breaches, leaving technologically inexperienced users nearly defenseless against such attacks. Earlier reports indicated that some attackers had bribed Coinbase employees to obtain information and specifically target high-net-worth account holders with assets in the seven- to eight-digit range.
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