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Coinbase saved its users from Twitter hack


As reported by Forbes, the exchange Coinbase has blocked any attempt by users to send their bitcoin (BTC) to the addresses of criminals during the attack of Twitter from last week.

The exchange allegedly blocked more than 1,100 users from sending bitcoin (BTC). We are talking about transactions totaling more than 30 BTC, for a total value of approximately $ 280,000, a very important figure that would undoubtedly have further enriched criminals.

Coinbase's reaction was therefore very swift in protecting its clients and came one minute after tweets from the Gemini and Binance exchanges, as Coinbase's Director of Information Security (CISO) stated, Philip Martin.

According to Coinbase, only 14 users would have sent a total of approximately $ 3,000 before Coinbase could update their blacklist, so some people were fooled by the proposal that seemed as tempting as several famous personalities announced.

In addition to Coinbase, most other exchanges also blocked criminals' addresses, as did Kraken.

Kraken CEO Jesse Powellhe explained:

“This trick shows that security is about layers of protection. Someone has to be watching administrators and setting alerts to watch for these vulnerabilities. The Twitter hack was a more widespread event, but scams of this nature are not new. Kraken proactively monitors this type of activity and blocks certain addresses we come across. Like any other scam, we proactively blocked the addresses of the Twitter hack earlier this week. ”

Twitter hack, blocking Coinbase and other exchanges

Although the intervention of exchanges has prevented users from sending funds, it should be noted that this has been possible due to their centralization, which has allowed users to avoid sending funds.

It is worth remembering the events that led to Julian Assange to use bitcoin (BTC), since all the providers of the various payment systems had prevented him from using them.

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