Crypto Whales Scammed: $45M Vanishes in 7 Days

Crypto Whales Scammed- Only Coinbase Facing This Scam Surge

Crypto Whales Scammed– Crypto security analyst and onchain sleuth ZachXBT has revealed that $45 million was stolen from Coinbase users in just one week through social engineering scams.

Over the past few months, I have reported on nine figures stolen from Coinbase users via similar social engineering scams. Interestingly, no other major exchange has the same problem.

This recent wave of attacks adds to a disturbing trend that seems to target Coinbase users more than those of other crypto platforms.

FBI Warned About Similar Threats

The FBI had already sounded the alarm in August 2024, warning that scammers were impersonating crypto exchanges and luring victims into sharing sensitive information.

In September 2024, the FBI updated its warning, highlighting that fake job offers were also being used. Victims were tricked into downloading malicious files disguised as employment tests or investment opportunities, often linked to North Korean hacking groups.

Coinbase Yet to Respond

Coinbase has not issued a public statement in response to ZachXBT’s latest report. However, their Chief Security Officer Phillip Martin has previously suggested that the crypto industry needs a unified scam reporting system to tackle the increasing complexity of scams.

In March 2025, users also reported receiving emails that closely mimicked official Coinbase communication, urging them to transfer funds to external wallets.

A Growing Security Concern

As scammers become more sophisticated, crypto investors must remain vigilant. While Coinbase investigates the root cause, the platform’s users are being urged by the community to double-check any communication and avoid clicking on suspicious links.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.