Coinbase Account Safety Warning and Tips: Ditch SMS 2FA Now!

Coinbase’s Product Director recently highlighted the importance of using hardware security keys, describing them as the strongest protection against hackers. Unlike two-factor authentication (2FA) via SMS or other digital methods—both of which are vulnerable to hacking and social engineering—hardware keys offer a nearly impenetrable level of security.

Why Phone-Number Linked Accounts Are a Security Risk

Popular on-chain analyst ZachXBT added an important suggestion: Coinbase should stop using phone numbers for account recovery. He explained that removing this feature would significantly reduce the risk of social engineering attacks, which often start with phishing calls or fake messages pretending to be from Coinbase support.

Social Engineering: The Biggest Security Threat?

Social engineering is a growing concern, as scammers exploit weaknesses in systems like SMS-based 2FA. They often trick users into sharing account details, leading to unauthorized access and financial losses.

Hardware security keys provide a powerful defense against such attacks. These keys require a physical device for account access, making it much harder for hackers to breach accounts.

Strengthening Security for Crypto Users

Coinbase has been actively promoting hardware security keys to improve account protection. This initiative is part of a larger effort to enhance security as threats targeting crypto investors continue to rise.

By removing phone number-linked account recovery, Coinbase could aim to build trust and better protect users’ assets in the increasingly risky crypto space.

As hackers evolve, so must our defenses.