• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
Coinbase

Crypto Investors Beware! Coinbase Phishing Scam Swipes $1.7 Million

Rubmar Garcia
by Rubmar Garcia
1 year ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The crypto community has raised the alarm about an ongoing phishing scam targeting investors after scammers posing as crypto exchange Coinbase successfully drained nearly $2 million over the weekend. The scam is reportedly related to the CoinTracker security breach from 2022.

Related Reading: Bitcoin Takes A Beating: Mt. Gox Distribution Spooks Investors

$1.7 Million Drained From Ledger Wallet

On Monday, Edge & Node’s CEO, Tegan Kline, reported that a crypto investor had fallen victim to a phishing attack. The scammers impersonated a Coinbase security member to target crypto investors. As a result, a user’s self-custody wallet was drained after revealing half of their seed phrase.

Per the report, a crypto investor was contacted via Google Voice by a scammer pretending to be from the crypto exchange’s security team. The scammer, falsely claiming to be named “David Brown,” contacted the victim to “confirm” suspicious transactions from their account.

Coinbase

Scammer's "Employee Verification" email. Source: Tegan Kline on X

The victim received an email from a fake Coinbase address “verifying” that the person on the phone was an official exchange representative. The crypto investor received another email after verification claiming their alleged transaction had been delayed.

The email shows that a transaction for $3,050.87 in Ethereum (ETH) had been delayed for 72 hours for “security reasons.” The scammer continued the call, talking to the victim about their previous addresses, which raised suspicions.

When questioned about their identity and the information he disclosed, the scammer stated that he “knows these things because he is from Coinbase.” The alleged Coinbase representative acknowledged the victim’s concerns but claimed the transaction was still coming through.

The scammer claimed to need the victim’s seed phrase as their Ledger wallet was connecting directly to the blockchain, and he was “trying to disconnect it.” After directing the victim to a website, they argued with the scammer about the safety of this action but eventually entered a portion of their seed phrase.

A few hours later, the investor received CoinTracker alerts. Upon checking their Ledger live, the victim saw that $1.7 million had been drained in Bitcoin (BTC), ETH, GRT, MATIC, and DOT.

CoinTracker Breach Linked To New Phishing Scam?

Many community members speculated about the scam, wondering how the scammer obtained some of the victim’s information. To some, this scheme was conducted by someone who knew the investor and their holdings.

However, Alex Miller, CEO of Hiro, suggested that the scam was linked to the CoinTracker security breach from 2022. The data breach compromised the information of over 1.5 million users who used the cryptocurrency portfolio and tax management platform.

Miller revealed that someone was trying to access his Coinbase account using information obtained during the CoinTracker breach.

Coinbase

Hiro's CEO comments regarding the $1.7 million phishing scam. Source: Alex Miller on X

The scammers seemingly used Coinbases’ API key, alongside other information, to verify they were the CEO. Nonetheless, the crypto exchange’s security team informed him of the ongoing login attempt.

An X user informed the community that scammers were able to “generate a (legitimate) support ticket + email” that could be used to “reference when calling you posing as Coinbase support.”

Other users shared their scamming attempts from this month. Several investors reported receiving calls from alleged Coinbase representatives to confirm suspicious transactions or login activity.

Ultimately, Miller suggested users “make sure your Coinbase account is locked down” and “cycle your API keys if you have been using cointracker.”

Related Reading: Legal Expert Praises Bitcoin, Labels It Freedom Against Financial Control, Here’s Why

ETH, ETHUSDT, coinbase

Ethereum (ETH) is trading at $3,054 in the weekly chart. Source: ETHUSDT on TradingView
Featured Image from Unsplash.com, Chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Rubmar Garcia

Rubmar Garcia

Follow

Rubmar is a crypto enthusiast who likes learning and improving constantly. She enjoys reporting on the latest news and developments in the crypto industry. Rubmar also enjoys scrapbooking, crafting, simulation games, and watching football.

Full Profile

Related Posts

Crypto

Crypto Boom Soon? Major Banks Predict At Least 2 Rate Cuts After Weak Labor Data

37 minutes ago
Trump Media

Trump Media Invest $105M In CRO Following Crypto.Com Treasury Agreement

2 hours ago
MARA Bitcoin holdings near $6b Bitcoin Hyper gains

MARA’s Bitcoin Treasury Nears $6B After Mining 705 $BTC in August, Fueling Bitcoin Hyper’s $14M Presale

4 hours ago
SOL Strategies to List on Nasdaq: Solana Outlook and Why You Can’t Miss $SNORT

SOL Strategies to List on Nasdaq: Solana Outlook and Why You Can’t Miss $SNORT

4 hours ago
XRP

XRP In The Skies: Air China May Let Millions Pay With Crypto

6 hours ago
Best Altcoins to Buy as Ethereum Outflows Signal Renewed Accumulation

Best Altcoins to Buy as Ethereum Outflows Signal Renewed Accumulation

5 hours ago

Premium Sponsors

Press Releases

  • minwer

    XRP Holders Can Earn $10,000 a Day Through COME...

    20 hours ago
  • BTC prices hit a two-week high, and holders flocked to GMO...

    20 hours ago
  • miner

    Cardano (ADA) Market Outlook: Long-term Potential Passive...

    20 hours ago
  • etnminer

    How to Play to Earn Crypto in 2025: Discover 6 Most...

    1 day ago
  • miner

    BAY Miner Cloud Mining App Launches with ETH and BTC Users...

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.