Coinbase users fall victim to social engineering scams resulting in $150 million theft. Stay updated on digital currency prices live.
A Coinbase user lost 110 cbBTC tokens worth $11.5 million due to a social engineering scam on the Base network, a layer-two Ethereum solution. The theft was part of a larger pattern of attacks on Coinbase users, with stolen assets quickly laundered through multiple exchanges. The attacker used blockchain bridges to move the assets to other networks and aggregate them in Ethereum, making recovery nearly impossible. This theft is just one instance in a growing trend, with at least $150 million stolen through similar methods from exchange customers.
