CandleFocus

Coinbase CISO: Social engineering scams top threat to crypto users

Author: Content Editor
According to Jeff Lunglhofer, the chief information security officer of Coinbase, social engineering scams are currently the biggest threat to cryptocurrency users and holders. He highlighted that these scams are not unique to the crypto sector but their frequency has increased in recent years. Lunglhofer recommended ignoring unsolicited calls from reputable exchanges and contacting them through official channels instead. He also emphasized the importance of understanding the difference between self-custody and exchange custody of crypto assets. Lunglhofer mentioned the threat of deepfake technology and the need to verify video interactions. Coinbase is using AI and machine learning to detect fraud and monitor user activities. Lunglhofer also stressed the importance of cooperation among cryptocurrency platforms for better cybersecurity and mentioned initiatives like the Crypto Information Sharing and Analysis Center. Regarding crypto's reputation, he argued that while it has been associated with illicit activities, the transparency of the blockchain makes it a poor choice for criminals seeking anonymity.

Related News