Learn how Coinbase users fall victim to a $300 million scam through social engineering. Stay informed on digital asset security.
According to recent research by ZachXBT, users of the digital currency exchange Coinbase lose over $300 million annually due to social engineering scams. The study, conducted in collaboration with a researcher named Tanuki42, reveals that between December 2024 and January 2025, two scam groups successfully stole $65 million from users. In these scams, criminals gain victims’ trust by spoofing phone numbers and sending fake emails, then lead them to phishing websites to steal their digital assets. Competing exchanges like Kraken and Binance do not face such security issues.
