An Indian man stole $37 million by spoofing the Coinbase website.
An Indian national pleaded guilty to conspiracy to commit fraud for using a fictitious Coinbase site to steal user credentials, ultimately netting him more than $37 million.
Chirag Tomar, 30, was arrested at the Atlanta airport on December 20, 2023, as a result of an investigation conducted by the US Secret Service with assistance from the FBI.
According to law enforcement officials, in June 2021, Tomar and his accomplices created a fake website that imitated the real Coinbase Pro resource. The fake site coinbasepro[.]com was intended to trick Coinbase users into entering their credentials and two-factor authentication codes into thinking they were using the real site.
The Coinbase Pro platform no longer exists, but it used to cater to professional cryptocurrency traders and investors, offering them a variety of advanced features. Coinbase Pro shut down on November 9, 2022, and its functionality and additional features were eventually integrated into the main Coinbase platform.
Phishing through the fake Coinbase Pro was also carried out using social engineering: victims who landed on the site were shown a fake error when trying to log in and asked to call a Coinbase representative (of course, a fake one). As a result, this person penetrated the victim’s system using remote access software.
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