• Thu. May 30th, 2024

Support Phone Line Launched by Coinbase for the Takeover of Accounts



Aug 22, 2021

Just when Binance has started facing a lot of pressure and scrutiny from regulators, Coinbase has found it as one of the best opportunities to expand its business. Coinbase, one of the largest cryptocurrency exchanges is not only expanding its product portfolio but is also providing more services to customers.

The exchange has recently made an announcement for its users that is bound to prove very promising for the users. According to the exchange, it has recently introduced a phone support team that is going to provide real-time support to the customers.

The exchange has announced that particular customer support is in place to support customers facing account takeover issues. The exchange has talked about the users who complained that their accounts were taken over by fraudsters and hackers, without their knowledge.

In the past, such cases at Coinbase were being investigated by the email, chat, or phone support representatives who were providing basic level customer query support.

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However, the teams were not fully trained to deal with the account takeover issues right away. Therefore, Coinbase has introduced a direct helpline that will direct Coinbase clients to the account takeover support team. The duty of the account takeover support team would be to help users that end up losing control over their accounts.

As soon as a customer contacts the particular support team about his/her account being compromised, they will launch an investigation on the matter. At present, most fraudulent activities of this sort are handled by firms through support emails and tickets. This process has never proven to be much effective when dealing with such queries.

The account takeover support team would ensure that the relevant support team deals with the matter swiftly and provides a solution right away.

The exchange is of the view that providing this kind of support would ensure that the customer problems are deal with in a timely manner without wasting any time.

In order to provide more protection and security to its customers, Coinbase has introduced several protection layers. Some major protection layers introduced by Coinbase include advanced hardware security keys, unknown device recognition, and two-factor authentication.

For those not aware of the account takeovers (ATOs), it is an activity where an unauthorized person or con artist attempts to gain access to a user’s account. Most of the time, the bad actors successfully gain access to the account of the users and end up stealing funds from their accounts.

The cryptocurrency exchanges as well as all other digital firms deal with such cases as theft of user’s identity. In this form, the hackers or bad hackers end up gaining access to a person’s account credentials and use the information for their false desires.


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