Coinbase Users Lose $46M in Phishing Scams – Here’s What Happened!

Krutika Adani

The Shocking Heist

  • Crypto investigator ZachXBT revealed that Coinbase users lost over $46 million in Bitcoin to phishing scams in March. One victim alone lost 400 BTC ($34.9M)!

How the Scams Worked

  • Attackers used address poisoning and wallet spoofing, tricking users into sending funds to fake wallet addresses that looked real.

Coinbase Responds

Coinbase is investigating the issue and warns users:

  • Never share login credentials or 2FA codes.

  • Coinbase will never ask you to transfer funds.

Crypto Scammers on the Rise

  • Coinbase is the most impersonated brand in crypto. Scammers use fake emails, calls, and websites to lure victims.

Protect Your Assets!

  • Enable 2FA & address allowlisting

  • Use a dedicated email for crypto

  • Store funds in Coinbase Vault for extra security

Learn more