This is Tomar Chirag
Indian scammer who stole $37,000,000 from Coinbase users
For this, the government fined him $250,000
Here’s his story + my personal safety tips 🧵👇
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So, here’s our plan for today:
1. A story about an Indian who stole $37 million from Coinbase users.
2. Online security tips to help you keep your money safe.
Let’s get started 👇
In June 2021, Tomar created a phishing website that mimicked Coinbase Pro
For those who don't know what that is:
A phishing site is a deceptive copy of a legitimate website, designed to trick users into providing their confidential information.
This way, Tomar could try to log into someone else's account, but that wasn't enough
Without the 2FA key, he couldn't access the account, even with the login and password
So, what did scammer do? Tomar found a way...
He used social engineering:
When users saw a login attempt, they called a fake Coinbase support service, which hacked the victims' computers using remote access software
Once Tomar obtained the tokens, he quickly mixed the funds and converted them to cash
This is how Tomar Chirag stole $37,000,000 from ordinary people.
But...
30-year-old Tomar Chirag was arrested at Atlanta Airport on December 20, 2023
He confessed to the crimes, and now faces a maximum prison sentence of up to 20 years and a fine of $250,000
Yes, the scammer was caught, but it's unlikely that any users will get their money back
That really sucks!
They are inexperienced newcomers who become disillusioned with the market and losing their money
So, here's my list of basic security rules 👇
• Where do you keep your money?
Better under the mattress than on a CEX!
Transfer your funds to wallets like MetaMask or Trust Wallet
But remember: even these wallets aren't completely secure
Distribute your funds across 2-3 wallets from different companies
P.S. If you want a post about the best wallets, like this post, so I know how relevant it is for you
• You've made a lot of money, now what?
The first thing to do with a large sum of money is shut up!
Here are two rules on this topic:
1. "Money loves silence"
2. "Three can keep a secret, if two of them are dead"
Get yourself a hardware wallet (like a Ledger)
• Dangerous Websites
1. Don't connect your wallets to unfamiliar websites; doing so can result in your money being stolen
2. All important links or frequently visited sites should be bookmarked
3. Do not open any links sent to you. None at all!
Even friends might send bad links, either by accident or if their account has been hacked
• Storing Information
Here’s my recommendation: Keep your passwords written down on paper. Make several copies of these notes
It's best not to carry them with you, but if you must, use an additional notebook with fake passwords
Conclusion
As crypto becomes more popular, more scammers will try to steal your money, so be careful
The security rules I've described above are based on my own experience and mistakes
As you gain experience, you'll develop your own set of rules.