What Do I Do If My Coinbase Account Is Hacked?

Introduction

Do you suspect that your Coinbase account is compromised? If you notice withdrawals you don't recognize, failed login messages, sign-ins from unauthorized devices, any activity you don't recognize, or web sessions from unfamiliar locations, your account may be hacked. You need to secure your account to prevent a major loss. Continue reading for the step-by-step instructions on what to do next if your Coinbase account has been accessed with your permission.

Reset Your Coinbase Password

To reset your password, visit the login page and click Reset Passwords. Then, follow the on-screen instructions.

Most hacks may also start with your phone number or email address. So, after resetting your Coinbase password, change your email password as well and enable two-factor authentication. Also, avoid opening emails from people and organizations you don't trust. Most importantly, don't click links sent to you via text messages.

To add an extra layer of security to your Coinbase account, we also recommend updating two-factor authentication. Just follow the next steps.

Sign Back in to Your Coinbase Account

Click Settings

Tap Security on the Settings Page

Click Select Under Authenticator

According to Coinbase, adding a text message authenticator is only moderately secure. It's better to also switch to an authenticator app, as it's the most secure. To do this, you need to scroll down to Other Options and select the Authenticator option.

Enter the Verification Code Sent to Your Phone

Just type in the code and click Confirm.

Scan the QR Code

You need to download an authenticator app and use it when scanning the QR code. Check the recommended authenticator options by Coinbase by clicking These Options. You can also use the Google Authenticator App and use it in scanning the QR code. Just open the app and click on the + sign at the bottom and select Scan QR code. Then, enter the code and click Enable.

To prevent further access and restrict funds from leaving your account, you can also lock your Coinbase account temporarily. To do this, proceed to the next step.

Sign Back In and Go Back to the Security Tab Under the Settings

You need to scroll down to See Something Unusual and select Lock Your Account.

Confirm It

It will ask if you're sure about locking your account. Confirm it by clicking "Yes, lock my account."

Contact Coinbase and Report the Incident

After securing your account, we recommend contacting Coinbase and reporting the hacking incident to them. Sign in to your account, go to the Activities tab, take screenshots of all unusual activities, and send them to Coinbase. Do this after signing out of all of the devices and apps you used.

If the hacking incident resulted in a significant loss, it's best to contact the authorities. Contact your banks as well if they're linked to your Coinbase account.

Conclusion

Hacking can lead to a major financial loss, but you can prevent it by securing your Coinbase account. Never share your password with anyone, and avoid downloading apps or visiting links from websites or organizations you don't trust. Also, if you notice any suspicious activities, act immediately and lock your account to prevent unauthorized access. Most importantly, strengthen security across all of your accounts, especially your phone and email address. Do you still have further questions on what to do when your Coinbase account is hacked? Contact Customer Support today.