Coinbase, a crypto exchange established in 2012, disclosed that the trading platform has recently been objected to an intricate cyber attack with an intention of entering their system as well as obtaining their funds.

On August 8, Coinbase announced the news in a blog post describing the whole incident in detail stating that the criminal used several techniques to access the platform’s vital parts.

The issues began by the end of May, as the company started to receive emails that were supposedly sent from an employees of the Cambridge University. These were sent directly from Cambridge and did not look suspicious. After that, Coinbase received numerous similar messages.

The criminals were in contact with Coinbase employees and did not send anything that raised concerns until mid-June. A link was sent to the platform’s email that contained a virus. Luckily, the security detected the threat in only a couple of hours.

Coinbase stated that they are not aware when the attacker accessed the Cambridge account. The people that the hackers claimed to be, are not active online. The exchange also reached out to the university to resolve the problem.

The company’s representatives announced that crypto trading platforms should be ready to face these kinds of attacks.


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