Safety Harbor Family Gets Hacked, Loses All Crypto Instantly
Cryptocurrency has been in the news a lot lately. Lots of early adopters have made millions. It’s tempting, to say the least. But there’s another aspect of crypto you may not have considered…hackers. Crypto is different from other investments in yet another way…these products do not have an FDIC to protect them. A local couple found out recently that their retirement funds could disappear forever in an instant. The Safety Harbor pair had amassed about $170,000 in their Coinbase account through investments in cryptocurrencies and planned to use the money for their golden years. That changed when someone hacked their Coinbase account. When it happened, the couple lost cell phone service and internet access. That’s because hackers had accessed his SIM card information in his cell, contacted his phone company to change the account and gained access to their money. Even the two-factor verification was hacked. The hackers then took all of their money instantly. Because the money was not in an FDIC insured account, it will likely never be recovered. The couple says Coinbase has insufficient security measures on its accounts and money can be taken too easily. No Coinbase transactions can be frozen or reversed, which is an ominous thing to discover after your account hits zero balance. Law enforcement officials say crypto hacking has grown drasticaly lately and is very difficult to prosecute because the hackers are in foreign countries. Source: ABCActionNews.com
