It was claimed that the Coinbase user lost $ 34.9 million to fraudsters, a march of up to $ 46 million
According to the Coinbase user, about $ 34.9 million from BTC lost to the fraudsters, according to the Crypto Zachxbt investigator.
Take zachbt to TelegramInvestigations conducted by ZachbtOn March 28 to reveal this alleged theft that involves an amazing amount of 400.099 BTC, which was transferred to the title.Bc1qvlusvxhqzee9tg quintfungrg6c0fs4u76jf.“
He also noticed other suspected thefts that include Coinbase users over the past two weeks, with a total of more than $ 46 million this month. Funds from thefts from Bitcoin to Ethereum have been filled via Thorchain or Coinflip and later converted to Dai Stablecoin.
Coinbase has yet to be a sign of any of the theft titles of these victims in their compliance tools.
Onchain Detective 34.9 million discovers from BTC theft
Zachxbt made warnings earlier in the year when Coinbase, the largest encryption exchange in America, is making Losing About 300 million dollars for deceptions annually. He revealed that about 65 million dollars were stolen between December 2024 and January 2025, and now the numbers are climbing in March, which has become an increasingly anxious trend.
The fraudsters use advanced social engineering attacks, most of whom target the elderly. Budgets use the stolen personal data to deceive users by sending fraudulent email messages that imitate the official communications personality, including fake cases, to attract victims to transfer money to the feedback portfolios.
“The fraudsters are cloning Coinbase approximately 1: 1 and allowing the scammers to send different claims to the target via the passengers in possession using the panels,” Zachxbt noted.
Besides these fraud, Zachbt also claims that Coinbase has faced many security violations, which they publicly did not recognize. These incidents include concessions that include the keys to the outdated application programming interface for tax programs that send verification codes to any email address regardless of their association with an account.
In 2023, Coinbase Commerce suffered a $ 15.9 million theft, while the threat representative was washed about $ 38 million from BTCTURK HAC via Coinbase. According to Zachxbt, this security security rejects systematic security lapses and supporting non -caffeine customers, which he placed on the door of Coinbase.
Coinbase LAPS in organizational compliance and security guarantee
Zach also described the practice of Crypto Exchang’s compliance with a question, saying that his failure in science related to the creation of monitoring tools creates blind spots in discovering fraud. Coinbase’s approach with competitors like OKX and Binance has varied, which is claimed to be more active in managing similar threats. He said Coinbase has repeatedly failed to take decisive action against the threat actors.
In July 2024, CB Payments Limited, or CBPL, UK branch in Coinbase, was fined at 3.5 million pounds by the United Kingdom’s Financial Conduct Authority for AML violations. CBL has made voluntary requirements with FCA, which prevents the company from serving customer at risk. However, this demand violated and served about 13,500 high -risk customers. FCA says these violations were the result of CBPL’s lack of due skill, care, and diligence in designing, testing, implementing and monitoring security controls.
The encryption fraud increases in frequency and intensity. In February 2025, bybit witnessed a tremendous security breach, which led to a loss of about $ 1.5 billion of ETAREUM when infiltrators in the ETHEREUM wallet control while transferring routine funds between a cold and hot wallet. These incidents show the constant encoding of the threat.
In response, organizational bodies intensify efforts to make the encryption space safe. For example, the US Securities and Stock Exchange Committee (SEC) reviews its approach to cybersecurity and security regulations. SEC Hester People Commissioner confirmed The need for clear organizational frameworks Which determines the jurisdiction of the Supreme Council for Judicial Education, and the criticism of previous methods based on enforcement and calling for setting the rules based on principles to enhance innovation while ensuring security.
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