Several Coinbase users recently fell victim to scams involving impersonators posing as Coinbase representatives, resulting in significant losses.
One particularly alarming case involved a victim who disclosed part of their seed phrase after receiving a convincing phone call and email from a scammer claiming to be from Coinbase’s security team.
The victim, having been led to believe their wallet was compromised and transactions were imminent, entered a portion of their seed phrase on a fraudulent website, only to later discover a staggering loss of $1.7 million from their wallet.
CEO Alex Miller emphasized the dangers associated with entering any part of a seed phrase on unauthorized websites, highlighting that even partial disclosures can lead to complete compromise by malicious actors.
The scheme targeted working class individuals, promising them financial freedom.
Vietnamese police arrested five individuals tied to a cryptocurrency scam led by offshore criminals.
During the third quarter of 2024, cryptocurrency thefts surpassed $127 million, with September contributing around $46 million.
A Russian cybercrime group is reportedly leveraging a series of AI-generated websites to implement software aimed at stealing cryptocurrency wallet credentials.
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