$45 million stolen in social engineering scams
Coinbase users targeted by sophisticated fraud tactics
Experts urge stronger personal security measures
Sophisticated Scam Nets $45M from Coinbase Users
In a troubling development, over $45 million has reportedly been stolen from Coinbase users through social engineering scams, according to crypto sleuth ZackXBT. These scams are becoming increasingly deceptive, catching even experienced users off guard. The scale and speed of this latest wave have sent shockwaves through the crypto community.
Social engineering involves manipulating people into giving up confidential information—like passwords, 2FA codes, or private keys—often through impersonation or psychological tricks. Victims in this case were likely deceived into thinking they were interacting with Coinbase support or trusted entities, making them more susceptible to fraud.
This alarming report has raised serious concerns about the growing effectiveness of human-targeted crypto scams. #Write2Earn