Onchain Sleuth and Security Analyst ZackXBT claims to have identified an additional $ 45 million in funds stolen from Coinbase users through social engineering scams in the last seven days.
According to the Onchain detective, the $ 45 million figure represents the Latest financial losses in a String of social engineering scams Targeting coinbase users, which is the zackxbt Says is a problem that is unique to crypto exchanges:
“Over the past few months, I have reported nine numbers stolen from Coinbase users through similar social engineering scams. Noteworthy, no other major exchange has the same problem.”
Cointelegraph reached Coinbase but did not get a response at the time of publication.
The claims made by Zackxbt put the whole Amount lost by Coinbase users In social engineering scams at $ 330 million annually and reflects the increasing number of sophisticated attacks that the threat actors use to deceive crypto holders.
Related: $ 330m Bitcoin Social Engineering Theft victim is the elderly citizen of the United States
FBI issues warned on social engineering scams targeting crypto users
In July 2024, reports appeared that many Coinbase users were targeted by scammers posing as an exchange support staff. The scammers managed to remove $ 1.7 million from a user.
The United States Federal Bureau of Investigation (FBI) issued a warning on August 2024, which sounds alarming to The scammers arising as crypto exchanges In an attempt to steal user funds and sensitive user data.
The FBI expanded this warning in September 2024, featuring the use of fake work offers from scammers that target crypto users.
https://www.youtube.com/watch?v=T06MVWZ6NGM
According to the FBI, North Korea-related groups related to the state will direct the victims to download malicious software by rejecting software packages as job tests, employment applications, and information on investment opportunities.
Most recently —but, in March 2025, crypto users reported a Uptick to scam emails The imitation of legitimate communication from crypto exchanges, which directs users to withdraw their funds in external wallets.
The growing variety and sophistication of social engineering scams pushed Coinbase Chief Security Officer Phillip Martin to call Streaming the scam reporting process by having a single, united outline or storage for recognizing and resistance to scams.
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