ICYMI: Security and ATOs…


ICYMI is an ongoing series of blog posts memorializing important Twitter threads from thought leaders at Coinbase and beyond. In this thread from 08/26/2021, Coinbase CSO Phillip Martin shares some ATO wisdom.

A headshot of Philip Martin, Coinbase CSO, smiling in a grey button-up and navy quarter-zip vest
@SecurityGuyPhil

ATOs are a real problem. Nearly 25% of U.S. households have been victims, financial losses average $12,000, according to http://Security.org <.01% of Coinbase users experience these events, but they are the most complex cases we deal with.

We work hard to minimize ATOs on Coinbase, but the reality is attackers have a large profit motive and prey on both technology gaps (e.g. SIM swaps) and human psychology. It’s unlikely that any financial platform of any scale will ever be entirely ATO-free.

We know we have a lot of work to do to make the experience better for those customers who do experience an ATO, and we’ve launched live phone support immediately as a first step.

Ultimately, the best way for a consumer to protect themselves against ATOs anywhere is to use the strongest 2fa available (sms < totp < yubikey) and a password manager.

See also: How to keep your crypto secure.

*We’ve added links where appropriate. You can see original thread here.


ICYMI: Security and ATOs… was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.





Source link

admin

Read Previous

Thinking of Updating Your WordPress Site to Gutenberg?

Read Next

Top 10 Best WordPress Plugins That Make Your Blog Badass

Leave a Reply

Your email address will not be published. Required fields are marked *