Coinbase users shocked by unintended 2FA message

Coinbase users received a two-factor authentication (2FA) message from the exchange by mistake on Friday.

The message notified users that their settings had been changed, triggering a wave of panicked customers trying to get in touch with customer support.

Some 125,000 people received the message, resulting in complaints by users. Coinbase took to Twitter over the weekend to apologize for the mishap and any disturbance caused.

“We’re laser-focused on building trust and security into the crypto community so that the open financial system we all want is a reality. We recognize that issues like this can hurt that trust”, Coinbase said.

Users said they had to go to great lengths to safeguard against a potential threat to their funds and attacks. This comes shortly after CNBC reported that individual Coinbase accounts have been robbed with the service not responding to individual complaints.

Coinbase said it would work hard to restore user confidence in its platform, referring to the accidentally-sent message. Coinbase also offered $100 worth of BTC in compensation – an outcome many users were happy with.

However, not all users have the same crypto holdings. Where $100 may have been enough for one user, for others the sum probably hardly justifies the stress caused by the platform.

Reports on Coinbase’s alleged failure to meet customer standards have been published on several occasions by The New York Times and CNBC, but Coinbase still remains the most trusted crypto exchange to date.

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Updated: 09/01/2021 — 16:00