The Rising Price of Bitcoin and Ethereum Is Leading to More Hacking Attempts

  • Last week, hackers took over the cellphone number and email account of Cody Brown, the founder of a virtual reality production studio called IRL.
  • The attackers then logged into his account on the cryptocurrency exchange Coinbase and drained it, stealing around $8,000, according to Brown’s reconstruction of the heist.
  • You are out $8k and they tell you to text a Twitter account or send them an email,” Brown told Motherboard in an online chat.
  • “Due to a recent increase in sophisticated attacks targeting Coinbase users, we are taking extra precaution to protect your account,” Authy wrote.
  • “Coinbase strongly recommends using unique, strong passwords and 2-factor authentication like TOTP (e.g. Google Authenticator, Duo, etc) for both email and digital currency wallets.”

If you own bitcoin or ether, two-factor authentication (and not with SMS) is your friend.
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