How to Eliminate Phone Number Risks
Product Director Coin Library recent explain People should use accounts protected by hardware security keys, describing this as the best form of security against hackers. In comparison 2FA Implemented via SMS or other advanced digital methods that are vulnerable to hacking and social engineering attacks, these keys provide a level of protection that is virtually impenetrable.
Why accounts linked to phone numbers are a security risk
On-Chain Detective ZachXBT Replied One important suggestion: Additionally, Coinbase must do away with the association of phone numbers with accounts. He said getting rid of this feature would go a long way in stopping social engineering scams, which often start with phishing calls or messages from fake Coinbase support.
The main prominent threat type is social engineering, which exploits certain aspects of security, such as SMS 2FA. Fraudsters often successfully trick users into providing their account details, leading to account takeover and loss of money.
Hardware keys are effective in preventing such breaches because they require a hardware device or gadget to access the system and are less likely to be hacked.
To increase security, Coinbase has been encouraging users to use these keys. The call also resonates with other attempts to improve security standards as the threat of attacks on cryptocurrency investors continues to grow.
Coinbase steps up efforts to protect crypto assets
To eliminate the threat posed by accounts tied to phone numbers, Coinbase is committed to strengthening users’ trust and protecting their assets in the current high-stakes cryptocurrency space.
