In recent weeks, Coinbase users have lost over $46 million due to phishing scams, according to blockchain investigator ZachXBT.
Scale of the Theft
The largest recorded theft amounted to 400 BTC (about $34.9 million), spotted on blockchain explorer Blockchair. This theft is part of a broader pattern targeting Coinbase users that began in early March.
Phishing Methods
The phishing tactics involve address poisoning and wallet spoofing, which tricks users into sending funds to fraudulent addresses that appear almost identical to their legitimate ones.
Coinbase's Response
A Coinbase spokesperson, Jaclyn Sales, confirmed the exchange is investigating the reported thefts. They warned users that the company will never call, email, or message to request login credentials, API keys, or two-factor authentication codes. Sales stated: “If someone contacts you claiming to be from Coinbase and asks you to transfer assets, do not do it. It is a scam.”
Phishing scams continue to pose a significant threat to Coinbase users. The exchange advises taking extra security measures to protect one's assets.
