It's not only Coinbase to be fair with them. We have before an attack on the 3rd party that handles their customer data like in the hardware wallet. But the hackers are clever enough to break into that 3rd party and stole the data that they want and even more. Some might try to extort money on this companies too.
As far as I know the exchange platform never stores consumer data on its own but rather cooperates with other vendors who handle it, another reason, we think they have no expertise in handling this, it takes a third party to complete and store it.
But to put into perspective, if you are a service that provides to crypto related, then you are at risk of being attack and they should have know it. And with that premises, they really need to do everything within their control to test their service so that there will be no loopholes that the attacks can see and exploit.
Was the breach easy to read or was their security never improved? For example, once a third of the month or once every 6 months? I see they will do extra security after his exploits happen.
Regardless if it is easy to read or what, they really need to improved by now as they are the target by the hackers inside of the exchanges themselves. There should be a constant review by their security team and they needed to do preemptive measures to make sure that everything is covered.
And just like we discussed this, for sure we all have heard about the Binance hack and how much they've lost worth $2.5 billion in counting. There are still investigating on how the hackers were able to break into their system. But then again, as what we have been talking, there is some loophole that they didn't see before and that's where the attackers took their chances.
