Coinbase Users Lose Millions to Social Engineering Scams
- Coinbase users lost over $65 million in the past two months due to social engineering attacks.
- An estimated $300 million is lost annually to such scams, according to ZachXBT.
- The actual loss might be higher as unreported cases are not included.
- Scammers use stolen data to mimic Coinbase communications and deceive users.
- Main scam groups include individuals from the Com and threat actors in India.
Over $65 million was reported lost by Coinbase users in recent months due to social engineering scams, with annual losses potentially reaching $300 million. Scammers impersonate official communications using stolen data, primarily targeting U.S. customers.
Source (2.6)https://www.coindesk.com/markets/2025/02/04/coinbase-users-are-losing-usd300m-a-year-to-social-scams-zachxbt-says?rand=52298
