Coinbase accidentally emailed 125,000 users that their two-factor authentication settings had been changed when they hadn’t. As a result, many users thought their account had been hacked.
In a span of 82 minutes, roughly 125,000 reports were sent to customers on Friday. reports Coinbase. According to the cryptocurrency trader, the company itself discovered the error and the notifications were stopped. A Coinbase spokesperson told CNBC that this was due to an internal error and that there is no question of a hack or outside influence.
Affected customers received an email stating “Your 2-step verification settings have been changed.” This caused some customers to panic. An American who got the message tells CNBC that he thought he was going to lose his cryptocurrency and decided to sell everything quickly.
Last week, CNBC published an article about complaints from Coinbase users. The news channel spoke to Americans who lost cryptocurrencies with the trading platform because their account was taken over by third parties. It is not clear how that happened; maybe it’s sim swapping. It would be complicated for the customers to get in touch with Coinbase and the platform would handle complaints poorly. Coinbase has a total of 68 million users.