Onchain Sleuth and Security Analyst ZackxBT claims to find out additional funds of $ 45 million on Coinbase users through social engineering fraud up to now seven days.
According to the Onchain detective, the 45 million dollars -the latest financial losses in a series of fraud technology for social engineering on Coinbase users, which based on ZackxBT is an issue with the Krypto exchanges:
“In the past few months I actually have reported over nine numbers that Coinbase users have been stolen through similar social engineering fraud. Interestingly, no other major exchange has the identical problem.”
CoinTelegraph turned to Coinbase, but was unable to receive a solution on the time of publication.
Source: ZachxBt
ZackxBT's claims give the entire amount of Coinbase users on social engineering fraud of 330 million US dollars a 12 months and reflect the growing variety of sophisticated attack strategies utilized by threats to defraud crypto holders.
FBI spends warnings for social engineering fraud that goals at crypto users
In July 2024, reports arose that several coinbase users were geared toward by fraudsters who pretend to be Exchange employees. The fraudsters managed to lose 1.7 million US dollars from a user.
The United States Federal Bureau of Investigation (FBI) published a warning in August 2024 and raised the alarm for fraud as crypto exchanges to steal user funds and sensitive user data.
The FBI expanded this warning in September 2024 and highlighted the usage of fake employment offers from fraudsters on Krypto users.
https://www.youtube.com/watch?v=t06mvwz6ngm
According to the FBI, the North Korean state-related hacking groups would prompt the victims to download malicious software by covering up the software packages as employment tests, applications and knowledge on investment opportunities.
In recent times, in March 2025, KRYPTO users reported a rise in frauds -e -e -e -emails that followed legitimate communication between crypto exchanges and users reveal their funds to external wallets.
The growing diversity and class of social engineering frauds prompted the Chief Security Officer from Coinbase, Phillip Martin, to have the fraud reporting process through a single, uniform framework or a repository for the identification and combating of fraud.
