Coinbase Users Lose Over $46 Million to Recent Phishing Scams
Blackchain investigator ZachXBT reported that Coinbase users lost over $46 million to phishing scams in the past two weeks. Key points include:
- Scammers targeted multiple Coinbase wallets, with an estimated 400 Bitcoin (valued at $81,464 each) stolen from one wallet.
- A single scam resulted in a loss of approximately $34.9 million (400.099 BTC).
- Coinbase's communications director confirmed the company's awareness and ongoing investigation into the incidents.
- Users are advised that Coinbase will never ask for login credentials, API keys, or 2FA codes.
- Common scams include address poisoning and wallet spoofing, tricking users into sending assets to fraudulent addresses.
- Coinbase is the most impersonated crypto exchange, handling over $1.6 billion in daily trading volume.
- Previous estimates indicated Coinbase users lost over $65 million between December 2024 and January 2025.
- Coinbase is advocating for clearer regulations in the US and has requested transparency on crypto enforcement costs from the SEC.