Crypto Scam Alert: Impersonator Poses as Coinbase Support to Steal Millions
In a tragic turn of events, a retired artist from the United States has reportedly lost over $2 million in cryptocurrency after falling victim to a sophisticated Coinbase impersonation scam. The case highlights the growing dangers of phishing attacks and social engineering tactics targeting unsuspecting crypto investors.
How the Scam Happened
According to reports, the victim—who wishes to remain anonymous—received a call from someone posing as a Coinbase support representative. The scammer claimed there was suspicious activity on the artist’s Coinbase account and that immediate action was needed to protect the funds.
Using fear tactics and a false sense of urgency, the impersonator convinced the artist to grant remote access to their device and log in to their Coinbase account. Once inside, the scammer drained multiple wallets, transferring $2 million worth of digital assets to untraceable addresses.
“They sounded professional, knew details about my account, and seemed legitimate,” the victim shared in a public warning to others.
The Growing Threat of Crypto Impersonation Scams
This case is not isolated. The Federal Trade Commission (FTC) and other regulatory bodies have repeatedly warned about the rise in crypto-related scams, especially those involving fake customer support lines for major exchanges like Coinbase, Binance, and Kraken.
Scammers often use fake pop-ups, phishing emails, and even spoofed phone numbers to make their operations look official. Once they gain access to a user’s account or seed phrase, they quickly transfer funds to wallets outside the jurisdiction of U.S. law enforcement.
Coinbase Responds
In response to the incident, Coinbase reiterated that it will never call users unsolicited or ask for passwords, 2FA codes, or remote access. The company urged users to always verify official communication channels and to enable security measures such as two-factor authentication (2FA) and whitelisting withdrawal addresses.
“If someone asks for your login credentials or access to your wallet, it’s a scam—no exceptions,” Coinbase stated in a recent blog post.
Conclusion: A Wake-Up Call for Crypto Holders
This heartbreaking incident is a reminder that no one is immune to online fraud, even those who consider themselves tech-savvy. As crypto adoption continues to grow, so do the threats posed by bad actors.
Always double-check any communication claiming to be from an exchange, and never share private keys or account access with anyone. The best defense against scams is education, vigilance, and skepticism.