The post Coinbase Account Safety Tips: How to Eliminate Phone Number Risks appeared first on Coinpedia Fintech News
The Product Director of Coinbase recently said that people should use accounts protected with hardware security keys, describing them as the best form of security against hackers. In contrast to 2FA implemented via short messages or other advanced digital approaches which are vulnerable to hacking and social engineering, those keys offer a nearly invulnerable level of protection.
Why Phone-Number Linked Accounts Are a Security Risk
On-chain sleuth ZachXBT responded with a crucial suggestion: Furthermore, phone number connection to the accounts, must be abolished by Coinbase. He said that getting rid of this feature will go a long way in halting social engineering scams which are usually started using phishing calls or messages from fake Coinbase support.
The main outstanding threat type is social engineering, which takes advantage of certain aspects of security, such as SMS 2FA. There is often a practice when fraudsters succeed in cheating users into providing their account details, which results in account takeover and money loss.
Hardware keys are effective in avoiding such breaches as they require hardware devices or gadgets to gain access to a system, with fewer chances of hacking.
For better security, Coinbase has been promoting the use of these keys among its users. This call also resonates with other attempts to boost security standards as the threats attacking crypto investors are on the increase.
Coinbase’s Move to Strengthen Crypto Asset Protection
In order to eliminate threats arising from accounts connected to phone numbers, Coinbase seeks to enhance users’ trust as well as protect their possessions in the now high-risk crypto space.