Coinbase Users Lost Over $150 Million in Targeted Scams
According to reports, a Coinbase user lost 110 CBBTC and worth $ 11.5 million. After the loss occurred after the user became a victim of the basic social engineering scam, it was exchanged to the second floor of the Ethereum.
On January 31st, the blockchain investigator Zachxbt discovered the use of vulnerabilities and linked it to a wider fraud model that affects common users.
Zachxbt exposes $ 50 million theft to increase the COINBASE fraud crisis
According to Zachxbt CBBTC -Coinbase packaged Bitcoin products-The washed quickly in many instant communication. The attacker is exchanged, the bridge and the funds are moved through various platforms, and then it merged with other stolen assets on Ethereum. These actions are almost impossible to recover.
Investigators pointed out that the incident was part of the growth trend, and multiple common users suffered similar losses. He estimates this scam This nature has discharged at least $ 150 million from Coinbase customers.
“Coinbase has a serious problem of fraud. I just discovered more recent theft from Coinbase users. During the year, the $ 150 million from the theft of Coinbase users came from my independent confirmation. The multiple of this number, “zachxbt statementEssence
Common case It has not commented on the latest use. However, scams involving frauds involving frauds are becoming more and more common.
These attackers use Network fishing emailThe deception phone and other deception strategies seduce the victims to reveal the private key or login certificate. Once the access permissions are obtained, the wallet will be exhausted, the mobile funds and the account will be controlled.
December last year, A coinBase Commerce supplier lost $ 15.9 million Not intervened from the exchanges against the money laundering (AML) system. Before that, The reputation of the name stole $ 6.5 million In October 2024, using the Internet fishing plan, while pretending to be part of the Coinbase support team.
“I receive the entry of Coinbase users every week. These users fall on a targeted social engineering scam and cause a loss of millions of dollars per month. Coinbase does not help the victims. There are no other major exchanges. Question. The leadership is completely out of touch with the actual threat, and the internal policy is cited. Even if this is the right thing, it can abscond to any responsibility, “Zachxbt Write On X (previously Twitter).
These events are prominently displayed Safety Follow Coinbase users. Be The largest encryption exchange in the United States, The company faces the pressure of improving fraud detection and protecting customers from complex network threats.
If these scams continue to be unlimited, they can further erode the trust of centralized exchanges and emphasize the urgent need to improve the safety agreement.
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