Cybercriminals Exploit Coinbase Users in a $20 Million Phishing Scheme

In a sophisticated phishing scheme, hackers targeted over 500 Coinbase users, stealing more than $20 million in cryptocurrency. The criminals employed a deceptive domain, coinbasepro[.]com, which mimicked the legitimate Coinbase Pro website, tricking users into revealing sensitive information. The attackers, including alleged member Chirag Tomar, used various tactics, such as redirecting victims to fake pages and employing social engineering over phone calls. Despite the magnitude of the thefts, Coinbase only filed a complaint against the malicious domain in 2022, raising concerns about the platform’s responsiveness to such threats. The recent arrest of Tomar sheds light on the intricate workings of a larger cybercrime network, emphasizing the need for robust security measures among cryptocurrency users.

IMAGE: DOJ AND 404 MEDIA

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