Scammers stole $45 million from Coinbase clients in a week

In the week from May 1 to May 7, 2025, customers of the cryptocurrency exchange Coinbase lost over $45 million due to social engineering schemes, reports blockchain detective ZachXBT. The attackers impersonated customer support, sending phishing emails and fake messages to gain access to accounts. According to ZachXBT, the total annual losses of Coinbase users from similar scams could exceed $330 million. He also disclosed 10 wallet addresses of the scammers, eight of which are Bitcoin addresses. Experts note that no other major exchange is facing similar large-scale problems. Users are advised not to share personal information and to verify the sources of messages. Coinbase has not yet commented on the situation, but the incidents undermine trust in centralized platforms. Stay tuned for cryptocurrency market news, subscribe to #MiningUpdates

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