ZachXBT: Exchange Phone Verification Mechanism Has Serious Security Risks

Crypto detective ZachXBT commented on the recent user data breach incident at CEX, pointing out that the exchange's practice of requiring phone numbers is extremely insecure. He emphasized that scammers have stolen significant amounts of money by spoofing calls and messages displaying "CEX." ZachXBT stated that since most people have only one phone number and many websites require it, these numbers eventually get exposed in data breaches, making it nearly impossible for less tech-savvy users to defend against such attacks. It was previously reported that some attackers obtained information by bribing CEX employees, specifically targeting high-net-worth account users with assets in the 7-8 figure range.