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The exchange said that around 3500 customers of its total 30 million users worldwide could need to change their passwords as a glitch could possibly cause some security issues.  
Its not all as dramitic as it sounds as  Coinbase outlined “a password storage issue,”   that briefly resulted in personal information, including the passwords, being stored in clear text on internal logging systems. However they did not clarify if anything was stolen or if the information has been leaked anywhere.  
“Under a very specific and rare error condition, the registration form on our signup page wouldn’t load correctly, which meant that any attempt to create a new Coinbase account under those conditions would fail,” the post explained. “Unfortunately, it also meant that the individual’s name, email address, and proposed password (and state of residence, if in the US) would be sent to our internal logs.”
They went on to say “While we are confident that we’ve fixed the root cause and that the logged information was not improperly accessed, misused, or compromised, we are requiring those customers to change their passwords as a best-practice precaution,” the post explained.