Coinbase Says It Foiled a ‘Sophisticated’ Hacking Attack

armstrong coinbase 860x430

Cryptocurrency exchange Coinbase has revealed that it has been targeted by, and foiled, “a sophisticated, highly targeted, thought out attack” aimed to access its systems and presumably to make of with some of the billions of dollars’-worth of cryptocurrency it holds.In an Aug. 8 blog post that sets out in technical detail how the plot unfolded and how the exchange countered the attempted theft, Coinbase said the hackers used a combination of methods to try and hoodwink staff and access vital systems – methods that included spear phishing, social engineering and browser zero-day exploits.The attack had started on May 30, with a dozen staff being sent emails that purported to be from Gregory Harris, a Research Grants Administrator at the University of Cambridge. Far from random, these cited the employees’ past histories and requested help with judging projects competing for an award.Coinbase said:The attackers developed email conversations with several staffers,…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE