If your Coinbase account was hacked and had money stolen from it, you should lock the account and reset your password. Make sure to choose one that’s unique from the passwords of other accounts you use.
You should notify Coinbase about the hack as well. If you suffered significant financial losses, partner with a securities lawyer with Coinbase hack case experience. Your nationwide securities lawyer considers your case carefully. They help you find the party responsible for your hack.
Depending on the circumstances of your case, your attorney may advise you to take legal action against Coinbase. If warranted, your lawyer can file a claim against Coinbase and position you to get money for your losses.
Do Not Wait to Lock Your Coinbase Account at the First Sign of Unauthorized Access
Err on the side of caution if you believe your Coinbase account was hacked. Lock your account on all devices you use to access it. Once you complete it, you can minimize the risk that hackers will continue to access your account and steal money from you.
To lock your account, sign in to Coinbase. Next, select your profile avatar, followed by your account name. Then, choose “Security.” At this point, you will see a “Lock Account” tab. Go here, read the warning associated with locking your account, and finish the process.
Unfortunately, Coinbase API key security breaches can happen. These and other security incidents can compromise your Coinbase account. Locking your account can help protect you against future hacks and theft. If you decide to unlock your account at a later time, you can verify your identity to quickly.
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Resetting Your Password Is Critical if Your Coinbase Account Was Hacked
If a hacker uses SIM swapping or other malicious techniques to get your Coinbase password, they can access your account funds and steal from you without you realizing it. As soon as you see that your Coinbase account may have been hacked, reset your password and update it regularly moving forward.
Following a potential Coinbase account hack, visit the crypto exchange’s reset password page. Enter your email address, and Coinbase will send a password reset link to your inbox. Check your spam folder if you do not receive this link. Click on the link and update your password. Finally, complete two-factor authentication (2FA) to finish the password reset process.
Coinbase does not require users to update their passwords. However, it is generally a good idea to change your Coinbase account password every three to six months. Ideally, your password will consist of 12 characters or more. It should include a mix of uppercase and lowercase letters, numbers, and symbols, and exclude any personal information.
How to Get Compensation for Your Losses if You Are the Victim of a Coinbase Account Hack
If your Coinbase account was hacked and you suffered significant financial losses,, consult with a securities lawyer who has helped Coinbase account hacking victims achieve outstanding case results. Your attorney can submit a claim against the cryptocurrency exchange on your behalf.
Coinbase’s user agreement usually stipulates that arbitration administered by the American Arbitration Association (AAA) be used to resolve disputes. The arbitration process can be challenging. Thus, it is important to have an attorney familiar with this process serve as your legal advocate and representative.
In arbitration, your lawyer can present your Coinbase account balance and transaction history, bank records, emails with the crypto exchange, and other evidence. At the same time, they will dispute Coinbase’s argument and make it clear why you should be compensated for your losses.
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Receive Legal Guidance and Support After Your Coinbase Account Has Been Hacked
Hackers can access your Coinbase account and take money from it without your permission. What you do after you find out about a Coinbase account hack has long-lasting implications. Meet with securities lawyers in the aftermath of this incident. These attorneys will do everything they can to help you recover your stolen funds.
Meyer Wilson Werning has obtained more than $350 million in compensation for clients who have lost money due to a broker or financial advisor involving their money in fraudulent schemes. Our industry-renowned trial attorneys know the legal challenges you face after a Coinbase account hack.
We address these challenges and protect your legal rights as you go through the claims process. To learn more, request a case consultation with us.
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