Coinbase users lose millions of dollars annually due to social engineering fraud in coding.
On the series, known as Zachxbt Recount His 75,200 followers on the X social media platform that Coinbase users lose more than $ 300 million annually for social engineering fraud.
According to To Zachxbt, approximately $ 65 million of Coinbase users was stolen between December 2024 and January of 2025.
In the event of a victim, approximately $ 850,000 lost, Zachbt He says Calle’s identifiers and email messages that replace Coinbase’s support staff to drain money from the victim’s account.
He invited the victim from a confined phone number and used the personal information obtained from the private databases to obtain its confidence.
After they told the victim that their account has unauthorized entry attempts.
Then they sent a condensed email that appears to be from Coinbase with a fake status identifier that acquires more confidence.
They issued instructions to the victim to transfer money to Coinbase and Al -Bayda list as a title while “support” verified the safety of their accounts. “
According to For Sleuth online, a fake version of Coinbase is used almost the same as the same real version to deceive users to think that they interact with the legal Coinbase platform.
To stop fraud in social engineering, zachbt He saysand
“I strongly urge Coinbase to consider:
A) Make the phone numbers optional for advanced users with the authentication or the added safety key that your customer is completely verified.
B) Add the user account type to beginners / the elderly does not allow withdrawal.
C) Improving societal awareness (blog publications to restore user money, responding around the clock throughout the week, head theft addresses, government hunting fields, etc.)
D) Consider taking legal measures against TLOXP / Transunion to neglect on behalf of users because it is the basic tool that Internet criminals use to harm users.
E) The start of a legal action against multiple representatives of the US threats, who manage these fraud to raise an example. “
Transunion is the American Credit Office. TLOXP is a tool for research and investigation of data designed by Transunion, and is supposed to be used primarily by law enforcement authorities, legal professionals, private investigators and companies to perform in -depth rear tests, locate individuals and verify identities.
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