Altcoin Hub logo Altcoin Hub logo
2025-05-10 18:52:55

Criminals stole $45 million from Coinbase customers in a week.

   In the past week, criminals have stolen $45 million from users of the Coinbase platform using social engineering methods. This information was reported by on-chain investigator ZachXBT.

  •   According to data provided by ZachXBT, since the beginning of the current year, victims of fraud on Coinbase have lost over $300 million. The expert noted that no other major cryptocurrency exchange demonstrates similar vulnerabilities.
  •    Attacks are carried out by impersonating support staff. Victims are coerced into providing access to their accounts or transferring funds to external wallets.
  •    Philippe Martin, the head of security at Coinbase, proposed creating a unified registry for tracking fraud. He believes this would simplify threat analysis and enhance user protection.

In March of this year, users reported phishing emails in which criminals, posing as Coinbase representatives, offered to transfer assets to new wallets using pre-generated seed phrases.

 

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.