Coinbase user lost $1.4 million on crypto scamming
Crypto scam:
Coinbase has repeatedly urged its users to verify any communications they receive and never to share private information like seed phrases.
A victim recently shared his story on X, explaining how he was
contacted by someone pretending to be a representative from Coinbase. The
scammer, posing as a member of Coinbase’s security team, sent an email that
appeared legitimate, convincing the victim that he was dealing with a real
exchange security member. The fraudster alerted the victim to a suspicious
transaction from his wallet and crafted a believable story.
To prevent the transaction, the scammer requested the victim’s
seed phrase. The victim, aware of the risks but persuaded by the scammer’s
narrative, sent a part of his seed phrase. Unfortunately, even this partial
information was enough for the scammer to steal $1.7 million from the victim's
wallet. Alex Miller, CEO of Hiro Systems, explained that scammers record inputs
on their fake websites even if users do not submit them.
Miller also shared that he received a similar fake call from
someone pretending to be from Coinbase security but did not fall for the scam.
Many other X users have reported similar experiences, indicating a growing
trend of hackers using various methods to deceive unsuspecting users.
Coinbase has repeatedly urged its users to verify any
communications they receive and never to share private information like seed
phrases. These incidents highlight the importance of being vigilant and
cautious when dealing with online security matters.
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