Coinbase stops hack attack targeting 200 employees
The said hack targetted over two hundred employees in the exchange; however, swift action allowed the exchange to overcome the hacking attack that could have caused devastating losses to the company and investors.
How Coinbase stops hack attack?
It all started back in May when emails were received by Coinbase">Coinbase’s two hundred employees. Those emails were sent from the United Kingdom’s Cambridge University’s compromised accounts by a group of hackers CRYPTO3/HYDSEVEN.
Reportedly, the plan was well-executed and seemed to be carried out by a group of hackers who had considerable experience in developing exploits.
Moreover, to make this whole episode credible, the hackers shared some harmless links of the contest page initially to make them click on the following link with exploit payload, which was then sent to only five employees of Coinbase">Coinbase by using two Firefox 0-day exploits.
However, the second one was possible only after May 12, which tends to indicate that the hackers are very advanced in their game.
Coinbase">Coinbase representative stated in this regard that Security Operations of Coinbase">Coinbase received numerous alerts about unusual activity, but they were able to tackle the situation and defend themselves due to Coinbase">Coinbase’s security-first culture.
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