Coinbase's erroneous account security notification alarms 125,000 customers

Coinbase caused confusion and alarm among 125,000 customers after it erroneously sent notifications that their security settings had changed.

The notification said that the 2-step verification settings have been changed, causing customers to think their accounts were hacked.

The Nasdaq-traded company sent a second email saying that it sent the previous one in error.

The company also tweeted that it experienced a notification delivery issue.

The largest cryptocurrency exchange in the US spent most of the weekend addressing customer questions, says company spokesperson Andrew Schmitt.

He added that it's crucial to be transparent when they mess up to build customer trust.

There were many complaints from Coinbase customers could not reach anyone from the company after their accounts were hacked.

Coinbase has rolled out voice support for customers whose accounts had been taken over by a third party and would offer live chat later this year.