There has been a lot of compromise in the crypto industry, that Coinbase has decided to take that fight against criminals to a new level.

Even top protocols have lost funds running into millions to cybercriminals. In light of this, key players have made many attempts in the sector to strengthen security. However, hackers always find loopholes and bugs to exploit and steal.

The company announced its new phone lines for those who lost their funds to scammers.  With the present phone line, any user who suspects fraud can connect to a live operative, thereby facilitating the investigation proceedings.

Coinbase has created an up-to-date support phone line for the benefit of their customers who believe that outside actors have compromised their accounts. With this phone line, users can now connect live with a support agent who can then commence an immediate investigation.

Related Reading | NFTs Are A Money Laundering Scheme For Rich People, Says Crypto Analyst

Since the present industry uses emails and supports tickets, Coinbase believes that the recent support phone line can help users as well as save time for them in case of a fraudulent crisis.

More Security Measures For Coinbase Users

Coinbase is also providing extra protection measures to its customers, including advanced hardware security keys, unknown device recognition, and two-factor authentication.

ATOs or account takeovers consist of a hostile actor infiltrating and controlling a user account. This malicious act is regarded as identity theft. In this scenario, hackers collect the account holder credentials so as to input their password and log in.

Related Reading | U.S. Treasury Secretary Janet Yellen Accused Of Banking Corruption Following Move Against DeFi Space

Oftentimes, the credentials they steal are due to earlier information leaks or scams like keyloggers or phishing.

Account takeovers have become a great threat to the crypto world. Most especially since you can instantly withdraw assets. Besides, it is not easy to recover or track, unlike that of regular banking transactions.

Even though security breaches and phishing attacks will keep on existing. There are many different ways for users to stop them.

Featured Image From Free Images