According to Cointelegraph, a subdomain page of Coinbase Commerce prompted users to enter their wallet seed phrases, drawing attention from security researchers. Yu Xian of SlowMist stated that it is incomprehensible why Coinbase would set up such a page, directly requiring users to input their seed phrases in plain text for asset recovery, which he considers a severe security risk. On-chain analyst ZachXBT noted that the page was previously referenced in a Coinbase Commerce product help article, which advised users to recover funds by importing their seed phrases into compatible wallets such as Coinbase Wallet or MetaMask, along with a link to the subdomain’s withdrawal tool. The help article has since been removed. ZachXBT also pointed out that if exploited by malicious actors, this page could be used to launch seed phrase phishing attacks against Coinbase users.
Coinbase Commerce page prompted users to enter mnemonic phrases, raising security concerns.
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Summary
A Coinbase Commerce subdomain recently prompted users to enter wallet mnemonic phrases, sparking on-chain news and concerns about a security breach. Security researcher Yuxin criticized the move as a major risk, while on-chain analyst ZachXBT noted that the page was linked in a help document that has since been removed. The tool suggested importing mnemonics into third-party wallets for recovery. ZachXBT warned that the page could be exploited in social engineering attacks.
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