Coinbase users may have lost as much as $46 million to suspected phishing scams over the past two weeks as rising crypto prices continue to attract bad actors to the industry.
Scams such as address poisoning and wallet spoofing involve tricking victims into sending assets to fraudulent wallet addresses that closely resemble legitimate ones.
According to blockchain investigator ZachXBT, multiple Coinbase-linked wallets have been targeted this month. A screenshot from blockchain explorer Blockchair shows a suspected 400 Bitcoin (BTC) theft from a single wallet address.
“It is suspected a Coinbase user was scammed yesterday for $34.9M (400.099 BTC),” the investigator wrote in a March 28 Telegram post. “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+,” he added.
Suspected 400 BTC phishing