The post Crypto Investors Beware! Coinbase Phishing Scam Drains $1.7M appeared on BitcoinEthereumNews.com.

The crypto community has raised the alarm about an ongoing phishing scam targeting investors after scammers posing as crypto exchange Coinbase successfully drained nearly $2 million over the weekend. The scam is reportedly related to the CoinTracker security breach from 2022. $1.7 Million Drained From Ledger Wallet On Monday, Edge & Node’s CEO, Tegan Kline, reported that a crypto investor had fallen victim to a phishing attack. The scammers impersonated a Coinbase security member to target crypto investors. As a result, a user’s self-custody wallet was drained after revealing half of their seed phrase. Per the report, a crypto investor was contacted via Google Voice by a scammer pretending to be from the crypto exchange’s security team. The scammer, falsely claiming to be named “David Brown,” contacted the victim to “confirm” suspicious transactions from their account. Scammer’s “Employee Verification” email. Source: Tegan Kline on X The victim received an email from a fake Coinbase address “verifying” that the person on the phone was an official exchange representative. The crypto investor received another email after verification claiming their alleged transaction had been delayed. The email shows that a transaction for $3,050.87 in Ethereum (ETH) had been delayed for 72 hours for “security reasons.” The scammer continued the call, talking to the victim about their previous addresses, which raised suspicions. When questioned about their identity and the information he disclosed, the scammer stated that he “knows these things because he is from Coinbase.” The alleged Coinbase representative acknowledged the victim’s concerns but claimed the transaction was still coming through. The scammer claimed to need the victim’s seed phrase as their Ledger wallet was connecting directly to the blockchain, and he was “trying to disconnect it.” After directing the victim to a website, they argued with the scammer about the safety of this…

---

Filed under: News - @ July 9, 2024 3:20 am