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