Coinbase slammed terrible customer service after

This article from Norton entitled “SIM swap fraud explained and how to help protect yourself” is a few years old, but still relevant:

“Here are three other signals you may be a victim of SIM swapping.

“You’re unable to place calls or texts. The first big sign that you could be a victim of SIM swapping is when your phone calls and text messages aren’t going through. This likely means fraudsters have deactivated your SIM and are using your phone number.

“You’re notified of activity elsewhere. You’ll know you’re a victim if your phone provider notifies you that your SIM card or phone number has been activated on another device.

“You’re unable to access accounts. If your login credentials no longer work for accounts like your bank and credit card accounts, you likely have been taken over.


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Contact your bank and other organizations immediately.”

Over the past week, there has been a lot of coverage of the T-Mobile data breach. Cnet covers this important topic in this article, which also discusses the SIM-swap scam and steps to take:

“You can decrease your chances of someone gaining access to and taking over your phone number by adding a PIN code or password to your wireless account. T-Mobile, Verizon and AT&T all offer the ability to add a PIN code.

“If you’re unsure if you have a PIN code or need to set one up, here’s what you need to do for each of the major U.S.
carriers.

  • T-Mobile: Set up T-Mobile’s Account Takeover Protection service. You need to add the feature to each individual line on your account. I also suggest changing your account PIN (if you’re not asked to while setting up Account Takeover Protection).

Coinbase slammed terrible customer service after 909

“Europol said that “sim swapping” can be done either by fooling the phone company with “social engineering techniques” or by using a “corrupt insider.”

WHAT IS SIM SWAPPING?

I often get asked questions about growing cyber threats and how to keep online accounts safe — including cryptocurrencies. One area that has been getting a lot more attention is SIM-swapping fraud.

A SIM-swapping attack is also known as SIM splitting, SIMjacking, SIM hijacking and port-out scamming. This article from privacypros.io does a nice job of explaining how the fraud works:

“You might attempt access to one of your bank accounts that uses text-based two-factor authentication.

Coinbase slammed terrible customer service after tax

You can watch a video segment on the same topic here:Another recent example comes from Forbes, which highlighted an FBI bitcoin and cryptocurrency alert:

“The FBI advised financial and crypto companies to check the origin of emails and keep an eye on recently created accounts while those buying bitcoin and cryptocurrencies were encouraged to use multi-factor authentication — meaning they must have access to at least two devices or accounts linked to the platform—avoid download requests, remote access applications and any unofficial company communication channels.”


One more headline, from earlier this year, read “Europe SIM swapping: 10 arrested in Europe over €82.4m scam to hijack celebrities’ phones”: “European police have arrested 10 people for allegedly hijacking mobile phones belonging to high-profile celebrities in the United States.

Coinbase slammed terrible customer service after login

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This refers to when you start to access your account by typing in your user name and password.

“Then your bank sends a code to your mobile device for you to continue the login process.

“But some scammers can change the SIM card linked to your mobile number. That offers them control over the phone number, meaning they can receive access to your bank account and your finances.”

This technique defeats two-factor authentication by giving the cyber criminal access to your texts or phone calls. The bad actors need to trick your mobile phone company into believing that the request to swap SIM cards is coming from you.

WHAT TO DO IN A SIM-SWAPPING ATTACK

In case you’re wondering, no, this topic is not new, but it is a growing threat as more and more users start using two-factor authentication.

You are attempting to enter a Private Virtual Country Club.

Entrance to this private establishment requires membership but not an account.

Membership Contract:

• You Contractually Agree that you are at least 18 years of age and that you are accessing this website for personal use only. • You Contractually Agree that you wish to join as a member to this private establishment and that any communication taking place here is considered private communication between members which you agree not to publicly disclose or disseminate. • You are responsible for all activity that occurs under your IP Address and device on this website, including your conduct and any User Content you provide or that you allow others to provide under your IP Address and device.

Customers sue Coinbase over ‘untold millions’ of losses from a stablecoin’s loss of a yen peg Buyers lost millions of dollars in matter of hours after the gyen lost its peg to the Japanese yen, the suit alleges. Coinbase is facing a lawsuit that alleges customers suffered millions of dollars in losses over the crypto exchange’s role in trading and promoting the gyen stablecoin.

STOCK MARKET CRASH PLAYLIST https://www.youtube.com/c/HAGoodman/playlists

Kenneth Donovan and Hussien Kassfy filed the potential class-action lawsuit Thursday, accusing the largest US crypto exchange of misleading customers about the stability of the gyen.

They allege that Coinbase and the stablecoin’s issuer, GMO-Z Trust, described the gyen as pegged 1:1 in value to the Japanese yen, even when they knew that peg was prone to break.

That’s not determinative of what will happen in bankruptcy.” https://www.barrons.com/articles/coinbase-customers-crypto-bankruptcy-51652302126

Coinbase slammed for what users say is terrible customer service after hackers drain their accounts While the cryptocurrency exchange company has grown rapidly, complaints have continued to arise. Since 2016, Coinbase users have filed more than 11,000 complaints against Coinbase with the Federal Trade Commission and Consumer Financial Protection Bureau, mostly related to customer service.

Former employees told CNBC the company’s customer service practices shifted over time, with representatives struggling to keep up with demand.

Risk

Coinbase Slammed for What Users Say Is Terrible Customer Service After Hackers Drain Their Accounts

By Nicole Pinto on August 25 2021

  • in
  • Account takeover
  • Cryptocurrency fraud

“Interviews with Coinbase customers around the country and a review of thousands of complaints reveal a pattern of account takeovers, where users see money suddenly vanish from their account, followed by poor customer service from Coinbase that made those users feel left hanging and angry. Making the issue even worse, cryptocurrency transactions cannot be reversed, according to the FBI.

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