ONCHIN SLEUTH ANALYTH AND SAFETY OF ZACKXBT claims that he has identified an additional 45 million dollars of funds stolen by Coinbase users through social engineering fraud in the last seven days.
According to detective Onchain, the number of $ 45 million represents latest Financial losses in a number of social engineering frauds he said is a unique problem among cryptocurrency exchange:
“Over the past few months I have informed about nine numbers stolen from Coinbase users through similar fraud of social engineering. Interestingly, no other important exchange has the same problem.”
Cointelegraph contacted Coinbase, but he was unable to get answers until publication.
Claims submitted by ZackxBT place the total amount lost by Coinbase users for social engineering fraud in the amount of $ 330 million per year and reflects the growing number of sophisticated attack strategies used by threat entities for cryptographic owners.
Related: $ 330 million Bitcoin Social Engineering The Steal Stealing is a senior US citizen
FBI Problems warnings regarding social engineering fraud addressed to cryptographic users
In July 2024, there were reports that several Coinbase users were attacked by fraudsters pretending to be exchange support staff. Fraudsters managed to strip $ 1.7 million from one user.
The Federal Bureau of Investigative in the United States (FBI) issued a warning in August 2024, with an alarm on fraud pretending to be exchanging cryptocurrencies to steal user funds and confidential user data.
The FBI expanded this warning in September 2024, emphasizing the utilize of false employment offers from fraudsters addressed to cryptography users.
https://www.youtube.com/watch?v=T06MVWZ6NGM
According to the FBI, hacker groups from North Korea would direct victims of downloading malware by hiding software packages as employment tests, job applications and information on investment capabilities.
Recently, in March 2025, cryptocurrency users reported an escalate in fraudsters imitating legal communication with cryptographic exchanges, directing users to withdraw funds to external wallets.
The growing diversity and sophistication of social engineering fraud prompted the security director of Coinbase Phillip Martin to call to improve the fraud reporting process by having a single, standardized frame or repository to identify and combat fraud.
Warehouse: Real utilize of AI in Crypto, No. 3: Bright contract audits and cyber security
