According to Coinbase users, threats of fraud and phishing have increased

Many people on social media have complained about Coinbase security issues.

On Twitter, Coinbase customers have been reporting a rise in phishing and other frauds targeting the platform. According to these allegations, scammers are using Coinbase’s domain name in their schemes.

On July 7, a Twitter user called Daniel Mason reported the most recent occurrence. Mason was targeted by con artists who sent him SMS and emails with links to sites hosted on the domain.

The con artist pretended to be from Coinbase by calling Mason from a real phone number and then sending him an email from the domain.

After then, Mason received a phishing text message that led him to a URL under a Coinbase subdomain. The con artist went on to steal Mason’s identification details such as his home address, SSN, and driving licence number.

An email from [email protected] came very instantly. Mason suspected that the con artist had either filed a case on his behalf or hacked into Coinbase’s email system.

Many people on social media have complained about Coinbase security issues. Several forms of fraud, such as phishing attempts on Coinbase Wallet and criminals using the company’s site address, have been reported by users.

An unnamed victim who had a similar incident was questioned by Cointelegraph. This user contacted Coinbase’s help desk to verify an email allegation that their account had been hacked.

An employee from Coinbase verified the email as real, it was later discovered that the account had been hacked.

The victim claims that the hacker took their Bitcoin while posing as a Coinbase worker. The victim alleges Coinbase did not accept responsibility, despite the fact that they provided a witness, the time and date of the conversation, and the employee’s identity. The victim has suffered an estimated loss of about $50,000, and litigation has begun

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