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.

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.”

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.
placeholder
Bitcoin volatility drops to third-lowest level since 2012 amid rise in BTC treasury companiesBitcoin (BTC) trades above $108,000 on Tuesday following a steady decline in its volatility in the first half of the year, marking the third-lowest H1 volatility since 2012.
Author  FXStreet
Yesterday 02: 11
Bitcoin (BTC) trades above $108,000 on Tuesday following a steady decline in its volatility in the first half of the year, marking the third-lowest H1 volatility since 2012.
placeholder
AUD/NZD inches higher to near 1.0900 as RBNZ maintains Official Cash Rate at 3.25%AUD/NZD holds ground after the Reserve Bank of New Zealand (RBNZ) decided to stand pat on the policy rate after six consecutive cuts, trading around 1.0890 during the Asian hours on Wednesday.
Author  FXStreet
Yesterday 03: 03
AUD/NZD holds ground after the Reserve Bank of New Zealand (RBNZ) decided to stand pat on the policy rate after six consecutive cuts, trading around 1.0890 during the Asian hours on Wednesday.
placeholder
Ethereum Price Turns Positive — More Upside Likely if Momentum HoldsETH is now consolidating gains and might aim for a fresh move above $2,620.
Author  NewsBTC
Yesterday 03: 26
ETH is now consolidating gains and might aim for a fresh move above $2,620.
placeholder
Ethereum Price Forecast: ETH surges 5% on Bitcoin's all-time high and GameSquare treasury announcementEthereum (ETH) rallied past $2,700 alongside the broader cryptocurrency market on Wednesday.
Author  FXStreet
13 hours ago
Ethereum (ETH) rallied past $2,700 alongside the broader cryptocurrency market on Wednesday.
placeholder
Bitcoin Hits New All-Time High at $112,000 – What’s Next?Bitcoin surged to a new all-time high of $112,000 on Tuesday, gaining nearly 3% on the day amid renewed optimism over monetary easing.
Author  Beincrypto
13 hours ago
Bitcoin surged to a new all-time high of $112,000 on Tuesday, gaining nearly 3% on the day amid renewed optimism over monetary easing.
goTop
quote