Fraudsters Pretend to Be Coinbase Customer Support to Steal Funds

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Alex Dovbnya

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A phishing site is attempting to scam Coinbase customers into parties way with their crypto

Blockchain security company PeckShield has detected a phishing site that aims to scam Coinbase users.

Fraudsters pretend to be customer support staff of the largest U.S. exchange in order to lure victims into giving approval to a fake address on their Coinbase Wallet application. 

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At press time, users who have fallen victim to the scam have lost more than $86,700.

Phishing scams typically involve tricking users into revealing sensitive details (passwords, private keys, etc.) 

As cryptocurrencies are becoming increasingly popular, scammers are taking advantage of new opportunities. In 2021, scammers managed to steal more than $14 billion worth of crypto, double the record that was set in 2020, according to Chainalysis data. 

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