Coinbase Hacked: Thieves Steal $1 Billion Worth of ETH

IconCryptoNewsTerminal Staff13 Jun, 2024

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Coinbase Hacked: Thieves Steal $1 Billion Worth of ETH

Last week, Coinbase, one of the world's largest cryptocurrency exchanges, fell victim to a massive hack that resulted in the theft of 336,000 ETH. At the time of the hack, the stolen ETH was worth approximately $1 billion, making it the largest cryptocurrency theft of the year. The hack was first reported on June 12th by Crypto Potato, which noted that the stolen ETH was drained from Coinbase in a single transaction. The attack is still under investigation, and it is not yet clear how the hackers were able to gain access to Coinbase's systems. This hack is a reminder of the importance of keeping your cryptocurrency safe. If you store your cryptocurrency on an exchange, be sure to use a strong password and enable two-factor authentication. You should also consider storing your cryptocurrency in a hardware wallet, which is a more secure option than storing it on an exchange.

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