ICYMI is an ongoing collection of weblog posts memorializing essential Twitter threads from thought leaders at Coinbase and past. On this thread from 08/26/2021, Coinbase CSO Phillip Martin shares some ATO knowledge.
ATOs are an actual drawback. Almost 25% of U.S. households have been victims, monetary losses common $12,000, in keeping with http://Security.org <.01% of Coinbase customers expertise these occasions, however they’re essentially the most complex cases we deal with.
We work laborious to attenuate ATOs on Coinbase, however the actuality is attackers have a big revenue motive and prey on each expertise gaps (e.g. SIM swaps) and human psychology. It’s unlikely that any monetary platform of any scale will ever be completely ATO-free.
We all know we now have plenty of work to do to make the expertise higher for these clients who do expertise an ATO, and we’ve launched dwell cellphone support instantly as a primary step.
See additionally: How to keep your crypto secure.
*We’ve added hyperlinks the place applicable. You possibly can see unique thread here.