SIM Swap
On two occasions, right after my wife died, my Coinbase account was hacked, first for $14,216.61 worth of BTC and then while she was being waked for $104,843.59. Each time Coinbase sent a text saying they detected suspicious activity and were delaying the sends but they were imbedded within over 300 text messages purportedly from various retailers that the thief managed to flood my phone with. I didn’t see the first but responded to the second an hour and a half later by which time Coinbase said it was too late. They deny responsibility and say I cooperated. Don’t you think they have a responsibility to delay the sends until they had a response from me?
Terry Says
This is exactly what the column was about. So far — the banks have been able to avoid the issue, saying that since the (stolen) text was acted upon, you “participated” in the fraud!
However the Attorney General of NY has sued Citibank over this issue. Read this — and keep following the issue:
