ICYMI: Security and ATOs…

Coinbase News

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.


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.

How To Get Free Crypto  

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.

Coinbase Banner  

Go to Source
Author: Coinbase

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.