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Scam Alert: Fraudsters Pretend to Be Coinbase Customer Support to Steal Funds

Sun, 04/24/2022 - 16:28
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Alex Dovbnya
A phishing site is attempting to scam Coinbase customers into parties way with their crypto
Scam Alert: Fraudsters Pretend to Be Coinbase Customer Support to Steal Funds
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Blockchain security company PeckShield has detected a phishing site that aims to scam Coinbase users.

Fraudsters pretend to be customer support staff of the largest U.S. exchange in order to lure victims into giving approval to a fake address on their Coinbase Wallet application. 

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At press time, users who have fallen victim to the scam have lost more than $86,700.

Phishing scams typically involve tricking users into revealing sensitive details (passwords, private keys, etc.) 

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As cryptocurrencies are becoming increasingly popular, scammers are taking advantage of new opportunities. In 2021, scammers managed to steal more than $14 billion worth of crypto, double the record that was set in 2020, according to Chainalysis data. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at