According to Deep Tide TechFlow, on February 2, BeInCrypto reported that blockchain investigator ZachXBT revealed that Coinbase users have lost at least $150 million due to social scams over the past year, with this amount being confirmed in cases that he independently verified.
In the latest case, a user was scammed out of 110 cbBTC (worth $11.5 million) on the Base network. The attacker quickly laundered the funds using instant exchanges, making it nearly impossible to trace and recover the funds through cross-platform conversion and bridging operations.
ZachXBT pointed out that these types of scams are often carried out by impersonating Coinbase customer service, including phishing emails, spoofed phone calls, and other means to trick users into revealing their private keys or account information. Once successful, the attackers immediately transfer and control the funds. Furthermore, ZachXBT criticized Coinbase for failing to effectively assist victims and noted that its leadership has not faced the security threats.
