Here’s how Coinbase impersonators scammed 38 individuals

Sahana Kiran
Source – Pixabay

The crypto-verse isn’t new to hacks and scams. This time, prominent crypto exchange, Coinbase involuntarily succumbed to a scam that caused monetary loss among a few individuals.

The crypto industry grew from nothing to a trillion-dollar market. This certainly lured an array of people into the market. The industry entailed people who were genuinely interested in crypto to people who wanted to pocket easy money through illicit methods. Similarly, scammers decided to use Coinbase as a scapegoat and duped 38 individuals. They reportedly pretended to be Coinbase customer support staff and urged users to copy the link to a phishing site into the Coinbase Wallet application.

This further allowed the scammers access to the wallet and enabled them to easily steal funds.

PeckShield Alert brought this to light and pointed out that about 38 people were scammed during the process. These individuals went on to lose $86.7K worth of funds from their respective wallets.

Source – Twitter

Coinbase NFT scam

Impersonators have been picking out prominent platforms in the crypto industry and trying to bag easy money. Coinbase is one of the most popular platforms in the market. With a significant global reach, the exchange recently announced its entry into the NFT space. Banking on this, perpetrators have been trying to scam people into clicking a link.

Shib Army’s MILKSHAKE alerted the community about the same,

“Report: Please be careful out there. Multiple “Coinbase NFT” fake accounts with the “verified” symbol are tagging users on socials, to try to scam them into an event, and website portal, that allows them to connect to wallets and steal everything.”

This NFT scam reportedly brought great loss to many. One Twitter user reported the loss of 6 ETH to a scam page that pretended to be Coinbase NFT. Similarly, an array of people came forward to alert the community about the scam.