OVER $5 MILLION IN CRYPTO STOLEN FROM COINBASE USERS IN SOCIAL ENGINEERING SCHEME

Crypto investigator ZachXBT has uncovered over $5 million in stolen crypto assets linked to a social engineering scam targeting Coinbase users.

In April 2024, an elderly victim was scammed by Indian callers pretending to be Coinbase support, convincing them to transfer funds from their Ledger device.

While investigating, ZachXBT helped recover about $275,000 in stolen assets and traced additional funds to centralized exchanges and over-the-counter desks.

Chainalysis also reported that stolen crypto assets and ransomware attacks have been rising in 2024 compared to the previous year.

Source: The Block & Mario Nawfal