Coinbase Users Robbed Blind! 😱

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The blockchain chap, ZachXBT, has made a rather unpleasant announcement. It appears that Coinbase users, bless their naive hearts, have collectively parted ways with over $46 million in the last fortnight alone, victims of what one might delicately term ‘phishing scams.’ One shudders to think.

This blockchain ‘investigator’ – sounds rather like a low-rent detective, doesn’t it? 🕵️ – reports that these scammers, presumably bored with more conventional villainy, have been targeting Coinbase wallets with gusto this month. A glimpse into the digital entrails, courtesy of Blockchair, suggests that a staggering 400 Bitcoin

BTC
$83 494

24h volatility:
1.1%

Market cap:
$1.66 T

Vol. 24h:
$29.10 B

(a sum that would make even the most hardened gambler blanch) may have vanished from a single wallet. In a missive dispatched via Telegram, ZachXBT notes, with barely concealed glee:

“It is suspected a Coinbase user was scammed yesterday for $34.9M (400.099 BTC). 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 $46M+.”

A certain Jaclyn Sales, Coinbase’s director of communications (a title as reassuring as a damp squib), has acknowledged ZachXBT’s pronouncements and claims the matter is under investigation. One imagines much furrowing of brows and gnashing of teeth. 😠

Sales further intones that Coinbase, in its infinite benevolence, would never dream of requesting such vulgar things as login credentials, API keys, or even those frightfully modern 2FA codes. Thus, should anyone claiming allegiance to Coinbase attempt such impertinence, users are urged to resist. A novel concept, indeed. 🙄

Scams, those wretched contrivances, like address poisoning and wallet spoofing, lure the unwary into diverting their assets to fraudulent digital receptacles. Deception upon deception! 😈

In a previous communiqué from February, Coinbase advised the use of a dedicated email account, fortified with two-factor authentication, and the utilization of the Coinbase vault for added protection. A bit like bolting the stable door after the horse has not only bolted but taken a holiday in the Bahamas. 🐴🌴

Coinbase: Still a Favorite Haunt for Crypto Scoundrels

Scammers, with their unerring eye for opportunity, are impersonating major brands, with Coinbase taking the dubious honor of being the most frequently mimicked. It remains the world’s third-largest centralized cryptocurrency exchange (CEX), a fact unlikely to bring solace to its defrauded patrons, handling over $1.6 billion in daily trading volume. 🤑

Last month, on the X platform (a place where sanity goes to die), ZachXBT revealed that Coinbase users had already forfeited over $65 million between December 2024 and January 2025. “Our number is likely much lower than the actual amount stolen as our data was limited to my DMs and thefts we discovered on-chain which does not account for Coinbase support tickets and police reports we do not have access to,” it noted, with a hint of self-congratulation. 😒

Coinbase, ever the champion of rectitude, has been lobbying for clearer crypto regulations in the US. Last month, the exchange implored the Securities and Exchange Commission (SEC) to disclose the sums squandered on crypto enforcement under its previous regime. One can only assume the champagne budget has taken a hit. 🥂

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2025-03-31 23:18