Users Panic After CoinBase Mistakenly Sent Notices to Clients

Coinbase customers spent the weekend panicking after the company mistakenly sent emails to them stating that it changed their two-factor authentication settings.

Coinbase unintentionally sent the email to 130,000 of its customers, which resulted in extensive public reaction.

After two days, Coinbase wrote on Twitter to apologize for the accident. The tweet stated that the company focuses on creating trust and security in the crypto community. However, it said that they understand that such issues can hurt the trust.

Despite the company’s apology, many of its clients were afraid after receiving such emails. They started to report significant measures in response to the email, fearing hackers might target their accounts.

Comments on Coinbase’s social media page also submit that numerous clients could not access the company’s app several days after the incident.

Coinbase added that they would continue to work to increase the trust of every one of their customers impacted by these notifications. 

The company also stated that it is compensating every user with around $100 worth of Bitcoin.

Consequences

The company posted its apology on August 30 after the mixed reactions from consumers.

Some Redditors claimed they did not receive the promised $100 credit after receiving the 2FA message. The message promised to move their business to another exchange after the incident.

Other Redditors also stated that they did not receive the $100 BTC worth of credit. They are currently trying to move their stocks from Coinbase to another exchange. The reason is that they do not feel safe anymore.

However, not everyone is criticizing Coinbase. Some users are praising the company on Redditor for quickly offering compensation for its error. One of them posted that he just received his $100, and he was thankful for Coinbase how quickly it reacted on the matter.