Coinbase new security

[SilverandBitcoins]

I apologize if this has already been discussed.  I use Coinbase and noticed that now members have to enter a 7 digit security number each time they log in - the number is sent to a pre-registered phone number of the member.  This seems to add tremendously to the security since not only do you need a password to make transactions, but you also have to have a phone to receive the text with the 7 digit number.

[1714677752]

1714677752

[1714677752]

1714677752

[1714677752]

1714677752

[DanzoFriend]

It's still not good enough to stop whoever instantly hacked my account after sending BTC to it

[SilverandBitcoins]

It's still not good enough to stop whoever instantly hacked my account after sending BTC to it

Is there any recourse?  I wonder how the hacker got in.

[Stephen Gornick]

It's still not good enough to stop whoever instantly hacked my account after sending BTC to it

It doesn't look like his Coinbase account got compromised from a theif accessing the account, ... there's something else going on with this:

Since Coinbase doesn't give out private keys there's no way for a thief to create a transaction that looks like a "You sent Bitcoins to an external account" 10.399 BTC withdrawal in the Coinbase Transactions history but at the same time have a transaction combined with other inputs at the blockchain transaction level.

[antznmepantz]

Coinbase will also require phone authentication if you log in from other than a registered machine.  So, yeah, something else is going on here.

[SilverandBitcoins]

So, do you think that with the new phone authentication, accounts with Coinbase are a lot more secure?