Despite not supporting online gambling-related activities, Coinbase is still used by many players for personal use. Here’s what they should know about it.
Over time, Coinbase has already earned a reputation in the industry, becoming one of the most popular and trusted Bitcoin wallet providers today. Its market extends to various kinds of Bitcoin users, but recent news has indicated that it prohibits the use of its services for online gambling-related activities.
Despite not being able to be used on the Bitcoin casino market, many players still rely on Coinbase for their personal use. Thus, this key industry player still holds a certain degree of affinity with the online bettors.
As such, it is only necessary for the online gaming community to be wary of the possible ways their funds can be compromised. The recent incident is just one of these ways.
Users received an email allegedly from Coinbase
Several users became skeptical after receiving a message made to appear to have been sent by the Bitcoin services provider, stating that ‘We’ve got a message for You.’
According to the message, Coinbase is offering their clients an investment product that promises a 150-percent return. It further went to talk about the ‘risk-free’ deposits, and it even dragged the name of the New York Stock Exchange.
Later on, Coinbase confirmed that the email was not from them, and that it was a phishing attack. It also assured its customers that none of the Bitcoin funds were stolen.
SendGrid, a service that enables more than 180,000 companies to send mass emails, were reported to have been used by the hackers as the medium to make the attempt possible.
Coinbase faces another competitor
Meanwhile, a new international merchant solution has become available for businesses worldwide with the launch of igot’s new product.
The inclusion of this solution to the Australian exchange broadens its market reach as it opens its services to about 40 countries, supporting a variety of fiat currencies used by land-based businesses.
Coinbase, however, is positioned at the advantage since it already enjoys immense support from average consumers and merchants, even more so with the recent investment it received from a funding round. Also, Coinbase in the UK may soon happen.