A significant security breach has come to light as an alleged scammer impersonating a Coinbase help desk employee has reportedly defrauded users of approximately $2 million in cryptocurrency. The report expresses concern that this incident underscores the ongoing risks associated with social engineering tactics in the crypto space.
Scammer's Operations Uncovered
According to blockchain investigator ZachXBT, the scammer has been operating for over a year, utilizing deceptive methods to convince users of his legitimacy. By posing as a support worker, he managed to extract sensitive information and funds from unsuspecting victims.
Tracing the Stolen Funds
The stolen funds have been traced to various expenditures, including:
- the purchase of rare social media usernames
- lavish bottle service
- gambling activities
Leaked Video Evidence
ZachXBT has also released a leaked video showcasing the scammer in action, providing fake customer support to further illustrate the tactics employed.
A Reminder for Cryptocurrency Users
This incident serves as a stark reminder for cryptocurrency users to remain vigilant and cautious when interacting with support services, as scammers continue to evolve their strategies to exploit unsuspecting individuals.
A former Coinbase customer service agent was arrested in India in connection with a significant data breach affecting around 70,000 users, raising serious security concerns. This incident contrasts sharply with a recent scam involving impersonation of Coinbase support staff, highlighting ongoing vulnerabilities in the crypto space. Read more.








