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Coinbase Hacked - A CISO Explains HowA flaw allowed hackers to get customers' SMS two-factor authentication code and break into their accounts. They can make a phishing website that looks like Coinbase and they ask for the 2FA code and then they input the code at the sametime in your. By default, Coinbase secures user accounts with an SMS-based 2FA system, which can still be vulnerable to hacking. This is because the one.