Coinbase Users Lost $46 Million to Social Engineering Scams in March

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Shocking! Coinbase Users Lose $46 Million to Scammers—Is Your Money Safe? 💸😱

In a twist that could only be described as a plot twist worthy of a mediocre thriller, ZachXBT reports that a Coinbase user lost a staggering $34.9 billion (yes, billion with a ‘b’) to scammers on Thursday, March 27. But wait, there’s more! This isn’t just a one-off incident; Coinbase users have collectively lost over $46 million to scams in March alone. Talk about a bad month! 🙈

It seems that scammers have taken a liking to Coinbase’s user base, and they’re not shy about it. If you’re a Coinbase customer, it might be time to put on your detective hat and stay alert for those crafty social engineering attempts. 🕵️‍♂️

Coinbase Scams: The Unruly Teenager of the Crypto World

Despite being one of the world’s largest crypto exchanges, Coinbase is under the microscope as its users increasingly fall prey to scams. For over a year now, these sophisticated social engineering operations have been ransacking wallets like a raccoon in a garbage can. 🦝

According to our intrepid sleuth, ZachXBT, these scammers are showing no signs of slowing down:

“It is suspected a Coinbase user was scammed yesterday for $34.9 million. After uncovering this theft, I noticed multiple other suspected thefts from Coinbase users in the past two weeks bringing the total stolen this month to $46 million+. Coinbase has not flagged any of the theft addresses from these victims in compliance tools,” he said via Telegram. 📱

ZachXBT, the Sherlock Holmes of the crypto world, has been tirelessly tracking scams against Coinbase users. Over the last few months, he’s uncovered several high-profile crimes that relied more on social engineering than on outright hacking. Who knew that pretending to be customer support could be so lucrative? Last November, for instance, criminals masquerading as Coinbase Support managed to swipe over $6.5 million. That’s a lot of pizza! 🍕

Now, ZachXBT claims we’re in the midst of a full-blown crisis of fraud and scams. Last month, he estimated losses at $150 million annually, but he’s now cranked that number up to a jaw-dropping $300 million. Someone get this man a calculator! 🧮

He hasn’t named any suspects yet, but it could be an organized group, a bunch of independent actors, or perhaps even a rogue AI. Who knows? 🤖

“I have yet to see an incident where Coinbase flagged theft addresses. They are part of the problem; it shows they are not taking care of users,” he claimed. Ouch! 🔥

In summary, with the rate of these scams skyrocketing and the jaw-dropping amounts of money lost, Coinbase users should definitely be on high alert for social engineering threats. Because let’s face it, nobody wants to be the next headline in this ongoing saga of crypto calamity! 🚨

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2025-03-28 22:06