Sophisticated Scam Targeting Coinbase Users Results in $1.7 Million Theft

cryptonews.com:

Leading cryptocurrency exchange Coinbase faced increased impersonation scams last week, targeting at least four users. Crypto thieves used social engineering and impersonation tactics to deceive victims into revealing sensitive financial information. One victim lost over $1M in cryptocurrency to the scammers.

According to Edge & Node co-founder Tegan Kline’s July 8 X post, a close acquaintance fell victim to the impersonating scam and lost $1.7 million from their self-custody wallet.

The scammer sent emails appearing to verify their identity as a Coinbase representative. They fabricated a story about the victim’s wallet connecting directly to the blockchain, causing unauthorized transactions.

CT, a member of the community urgently needs your help.

$1.7 Million stolen – A good friend's self custody wallet was drained by a scammer yesterday, July 6th.

TLDR of how it went down below (3 pages)⤵️

You can find the Ethereum transactions with links in the comment below.… pic.twitter.com/OTx3wslz6R

— Tegan.eth