Coinbase has announced a new mechanism, live phone support. Namely, Coinbase implements live support for customers who believe their account has been compromised by outside agents.
«Our goal is to protect our clients while they participate in the crypto economy. And, at the same time, give them the best possible user experience».
Specifically, users will be able to chat with a live phone support agent and initiate an immediate investigation. Coinbase hopes that this implementation can help users save time in dealing with these kinds of issues.
In addition, Coinbase offers additional layers of protection. Which include two-factor authentication, unknown device recognition. And advanced hardware security keys.
Thus, account takeovers (ATO) imply that a malicious person gains access and control of a user’s account. In fact, they are treated as a form of identity theft, in which hackers simulate the credentials of the account holder to reset a password and login. As for example, phishing attacks or keyloggers.
To better understand, phishing or identity theft, consists of stealing personal and banking information. Disguising yourself as one of the platforms, sending people a message or an email that contains a malicious link. Once the user clicks on the link, it asks for their details and the malware installation begins.
Coinbase implements a customer service hotline for account recovery
By the way, account thefts pose a great threat in the world of cryptocurrencies, as assets can be withdrawn almost instantly. And they are more difficult to track or retrieve compared to standard banking transactions.
In this regard, Casper Sorensen, Vice President of Customer Experience at Coinbase stated: “Our goal is to be the most trusted platform. Our security team invests significantly to protect our more than 68 million users. We take many steps to protect our clients from Account Acquisitions (ATO), which are often caused by phishing campaigns.».
- All clients opt for two-factor authentication by default. Coinbase believes that this extra helps provide important basic protection for our clients.
- Device verification. When they log in from a new, unrecognized device. Another line of defense against possible attacks.
- Use the most advanced hardware security keys available.
How can the user avoid these attacks?
Mainly, security is a fundamental issue for the platforms that are responsible for working with cryptocurrencies, even more so if their objective is specifically to protect these assets. However, many times the users of these companies are deceived by criminals who pose as trusted people of the crypto platforms they use.
Very important, if any user successfully identifies and thwarts a phishing attack or is the unfortunate victim of one, one method of allowing others to avoid the same destination is to share their experience.
In the rare event that a customer notices a potential account takeover, Coinbase provides multiple channels for customers to quickly and easily lock their account so that no other unauthorized activity can take place.
Do you think your account was compromised?
If you notice suspicious activity on your account or believe that your account has been compromised, Coinbase suggests that you take these steps immediately:
- Lock your account.
- Contact Coinbase. Through live phone support.
- Protect your email and your device.
Finally, users who suspect fraud will be able to connect with a live operator. And thus speed up the investigation process. If you think you are the victim of an ATO, please call or visit the Coinbase support page to protect your account and get help.
I say goodbye with this phrase from Christopher McDougall: «Every great cause begins as a movement, becomes a business, and ends as a fraud.».