Coinbase Resolves Bug on Self-Custodial Wallet
Coinbase has announced that it has resolved a bug on its self-custodial wallet that was causing users’ balances to show as zero. The issue had been reported by a news outlet, prompting Coinbase to investigate and address the problem.
- Coinbase Wallet users experienced problems logging into the app and noticed that their Bitcoin balances were not being displayed.
- This is not the first time Coinbase Wallet has faced such issues, as users had previously complained about incorrect balance displays at the start of 2022.
- Coinbase faced technical difficulties with its non-custodial wallets shortly after their launch, with customers reporting incorrect crypto prices.
- Hackers have been found to manipulate wallet apps through malicious smart contracts, allowing them to steal assets from users’ crypto wallets.
- Other wallet applications, including Rabby Wallet, Blowfish, PocketUniverse, and Fire Extension, have also been found to have security flaws.
Despite resolving the bug, Coinbase has not addressed claims from users who are still experiencing problems. This incident highlights the importance of ensuring the security of self-custodial wallets and the need for users to remain vigilant against potential vulnerabilities.
Hot Take
The recent bug on Coinbase’s self-custodial wallet raises concerns about the security of crypto wallets and the potential for hackers to manipulate balances through malicious smart contracts. Users must be cautious and consider alternative wallet options that prioritize security to protect their assets.
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