![]() You do not do so through a third-party website to ensure the cold wallet is secure when you buy one. The offline cold wallet stores the private key, which keeps you safe. Coinbase accounts are online and can be hacked. ![]() Offline storage is better and much less vulnerable. So, what are the other choices? It will help if you keep your crypto in a cold wallet-something like Trezor or Ledger. Someone determines the phone number linked to your CB account.Someone determines the email linked to your CB account.Calls your phone carrier and initiates a SIM port on your account to gain access to your SMS.Goes to your email service and starts a lost- password-reset (bypasses 2FA), to access your email.Goes to CB and starts lost- password-reset (bypasses 2FA), to access your CB account.Waits for 24 hours hoping you can’t reach customer support to close your account.After 24 hour freeze thaws, empties your CB account. The SIM port attack on Coinbase (CB) works like this: You must be aware of previous hacking incidents in considering preventive actions of keeping your crypto safe. ![]() ![]() As crypto trading becomes increasingly mainstream, cybercriminals are getting even more creative and persistent in their attempts to steal assets. ![]()
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