ZachXBT Reveals Coinbase Users Lost $150 million in Social Engineering Scams

https://beincrypto.com/coinbase-users-loose-150-million-in-scams/

created by No-Elephant-Dies on 01/02/2025 at 16:36 UTC

0 upvotes, 5 top-level comments (showing 5)

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Comment by No-Light-9041dfddx at 01/02/2025 at 17:16 UTC

3 upvotes, 0 direct replies

Isn’t he the guy that rugged his own followers?

Comment by [deleted] at 01/02/2025 at 16:40 UTC

1 upvotes, 1 direct replies

[removed]

Comment by coinfeeds-bot at 01/02/2025 at 16:50 UTC

1 upvotes, 0 direct replies

tldr; Blockchain investigator ZachXBT has revealed that Coinbase users have lost at least $150 million to social engineering scams. A recent incident involved a user losing $11.5 million in wrapped Bitcoin on Coinbase's layer-2 network, Base. The stolen funds were quickly laundered, making recovery difficult. ZachXBT highlighted that these scams, often involving impersonation of Coinbase support, are part of a growing trend. Despite the significant losses, Coinbase has not commented on the issue, raising concerns about its security measures.

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