{"id":5904,"date":"2025-05-08T14:33:00","date_gmt":"2025-05-08T13:33:00","guid":{"rendered":"https:\/\/investx.fr\/en\/?p=5904"},"modified":"2025-05-08T14:18:21","modified_gmt":"2025-05-08T13:18:21","slug":"coinbase-losses-zachxbt-warning","status":"publish","type":"post","link":"https:\/\/investx.fr\/en\/crypto-news\/coinbase-losses-zachxbt-warning\/","title":{"rendered":"Millions Lost on Coinbase ? ZachXBT Sounds the Alarm"},"content":{"rendered":"\n

Coinbase Targeted by Unprecedented Wave of Social Engineering Scams<\/h2>\n\n\n\n

The recent losses suffered by Coinbase users highlight an alarming trend in the world of cryptocurrencies<\/a>. We are referring to the surge in crypto scams<\/strong> based on social engineering.<\/p>\n\n\n\n

According to ZachXBT, over $45 million was reportedly stolen in early May 2025, in just a few days. While these attacks are not new, their frequency and sophistication are worrisome.<\/p>\n\n\n\n

Scammers use advanced techniques to impersonate Coinbase’s customer support. They often reach out via phone, email, or through fake interfaces.<\/p>\n\n\n\n

One of the most common tactics is to deploy a fake interface<\/strong> that perfectly mimics Coinbase’s interface. This prompts victims to transfer their funds to fraudulent crypto addresses.<\/p>\n\n\n\n

These psychological manipulations exploit fear, urgency, and the technical complexity of platforms. Even experienced users fall prey to them! Online scams targeting Coinbase have thus resulted in losses exceeding $300 million<\/strong> over the past year.<\/p>\n\n\n

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Source: ZachXBT<\/em><\/figcaption><\/figure>\n<\/div>\n\n\n
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Stay informed with exclusive updates on the Investx app!<\/strong><\/a><\/div>\n<\/div>\n\n\n\n

Telegram and Fraud “Panels”: Key Tools for Scammers on Coinbase<\/h2>\n\n\n\n

A particularly troubling aspect of this case<\/a> is the sale of tools called “panels” on Telegram<\/a>. These tools are designed to impersonate Coinbase’s customer support<\/strong>. Essentially, these programs allow for creating highly credible communications, including simulating legitimate calls or emails.<\/p>\n\n\n\n

ZachXBT <\/strong>points out that these tools are becoming more accessible and customizable, which amplifies the attacks. Users can even send automated messages with official logos and URLs close to those of the actual crypto platform Coinbase<\/strong>, making detection nearly impossible for victims.<\/p>\n\n\n\n

Once the funds are stolen, they are swiftly moved via crypto mixers or converted on DeFi platforms like THORChain, making recovery impossible!<\/p>\n\n\n\n

This facilitates money laundering, with assets circulating from one crypto address to another until they become untraceable. This reality makes fund protection more challenging. It also underscores the need for strengthened responses from crypto exchanges<\/a>.<\/p>\n\n\n\n

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10\/ So where does the blame lie?

a) For the vast majority of the time these theft addresses are not being reported at all by Coinbase in popular compliance tools even after the thefts went on for weeks.

b) Multiple victims who have contacted me get stuck with useless customer\u2026 pic.twitter.com\/ssYL2wN5iO<\/a><\/p>— ZachXBT (@zachxbt) February 3, 2025<\/a><\/blockquote>