Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Coinbase users received mass-phishing emails from scammers over the weekend

Source Cryptopolitan

Crypto investors are reporting a wave of scam emails impersonating Coinbase, pressuring users to transfer assets into fraudulent self-managed wallets before an April 1 deadline.

Victims shared examples of recent scam emails on X. These emails claim that Coinbase is transitioning users into self-custodial wallets due to a court mandate stemming from a class-action lawsuit alleging the exchange sold unregistered securities. In reality, the lawsuit from the US SEC was dismissed on 27 February.

Is anyone else getting the fake @coinbase emails and texts? They’re getting increasingly sophisticated.

One is a fake verification text to get you to call a fake support number and the other is an email getting you to set up a real wallet they can drain.

Stay safe out there. pic.twitter.com/8SgjPQeUqk

— Steve 🤙 (@SteveKBark) March 14, 2025

Any crypto assets sent to the compromised wallets become immediately accessible to the fraudsters, resulting in the theft of all transferred funds.

The scam emails state: “Coinbase will operate as a registered broker, allowing the purchases, but all assets must move to Coinbase Wallet.”

The exchange has officially responded to these scam emails on X. In a recent post, the exchange said that it is aware of recent phishing emails from scammers. It warned, “We will never send you a recovery phrase, and you should never enter a recovery phrase given to you by someone else.”

Reminder: Beware of recovery phrase scams.

We're aware of new phishing emails going around pretending to be Coinbase and Coinbase Wallet.

We will never send you a recovery phrase, and you should never enter a recovery phrase given to you by someone else. pic.twitter.com/E9Us5jNS4C

— Coinbase Support (@CoinbaseSupport) March 14, 2025

Users are strongly advised to remain cautious and disregard any recovery phrases given by someone else.

Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Gold price slips below $3,300 amid weak US data, set for over 5% monthly gains Gold fell some 0.69% during the North American session on Wednesday after hitting a daily high of $3,328. Data from the United States (US) revealed an economic contraction and fueled speculation for further interest rate cuts by the Federal Reserve (Fed).

Author FXStreet

May 01, 2025

Gold fell some 0.69% during the North American session on Wednesday after hitting a daily high of $3,328. Data from the United States (US) revealed an economic contraction and fueled speculation for further interest rate cuts by the Federal Reserve (Fed).

Ethereum Price Forecast: Accumulation addresses post record inflows in December despite high selling pressure Ethereum (ETH) accumulation addresses recorded their highest monthly inflow in December 2025 as the year came to a close. Despite the weak market momentum following the holidays, these wallets doubled down on their buying pressure, adding 3.62 million ETH to their cumulative balance.

Author FXStreet

Yesterday 02: 11

Ethereum (ETH) accumulation addresses recorded their highest monthly inflow in December 2025 as the year came to a close. Despite the weak market momentum following the holidays, these wallets doubled down on their buying pressure, adding 3.62 million ETH to their cumulative balance.

Malaysian doctor loses RM529,200 in crypto scam — then gets hit again by fake “fund recovery” pitch A 67-year-old Malaysian doctor lost RM529,200 after a crypto “investment” pitch on TikTok and a second fake “fund recovery” scheme, Perak police said, warning of rising multi-stage fraud tactics.

Author Mitrade

20 hours ago

A 67-year-old Malaysian doctor lost RM529,200 after a crypto “investment” pitch on TikTok and a second fake “fund recovery” scheme, Perak police said, warning of rising multi-stage fraud tactics.

My Top 5 Stock Market Predictions for 2026 Five 2026 market predictions written in a native, news-style voice: AI’s winners and losers, broader sector leadership, dividend demand, valuation cooling as the Shiller CAPE sits at 39 (Dec. 31, 2025), and quantum-computing bursts—while keeping all original facts and numbers unchanged.

Author Mitrade

4 hours ago

Five 2026 market predictions written in a native, news-style voice: AI’s winners and losers, broader sector leadership, dividend demand, valuation cooling as the Shiller CAPE sits at 39 (Dec. 31, 2025), and quantum-computing bursts—while keeping all original facts and numbers unchanged.

Gold Price Forecast: XAU/USD jumps above $4,350 on US-Venezuela tensions Gold price (XAU/USD) climbs to around $4,370 during the early Asian trading hours on Monday. The precious metal extends its upside amid a renewed surge in geopolitical risk after the United States' (US) capture of Venezuelan President Nicolas Maduro.

Author FXStreet

4 hours ago

Gold price (XAU/USD) climbs to around $4,370 during the early Asian trading hours on Monday. The precious metal extends its upside amid a renewed surge in geopolitical risk after the United States' (US) capture of Venezuelan President Nicolas Maduro.

Popular Symbols