Fake Coinbase Support Steals BRL 400,000 in Cryptocurrencies

A new site that emerged in the community has already managed to steal BRL 400,000 in cryptocurrencies, posing as customer service and support from Coinbase, the largest brokerage in the United States. The platform should soon arrive in Brazil in its global expansion process. In the cryptocurrency and financial market, it is common for hackers and embezzlers to create fake websites to impersonate legitimate customer service. This practice is called phishing, and it is one of the biggest threats to investors around the world. That’s because, with the practice of phishing, fraud focuses on getting people’s data to use later on the correct websites. However, the evolution of phishing has been the practice of asking people to put their wallet details on fake websites, in which case all coins are stolen immediately.

Fake Coinbase Support Steals BRL 400,000 in Cryptocurrencies

The Coinbase Wallet app is the new target of a scamming practice in the cryptocurrency market, according to a PeckShield alert this Sunday (24). This company tracks fraud and investigates problems that affect the market, providing intelligence and transparency so that they do not happen again. As such, a new disclosure has reported that scammers are pretending to be Coinbase support, leading victims to copy a phishing site into the company’s wallet. After copying the address and approving it, all funds from the victims wallet are taken.

“The scammers pretend to be Coinbase’s customer support team and trick users into copying the phishing site into their Coinbase Wallet app, approving the scam address and stealing money.”

The biggest problem with the new scam detected is that it already victimized 38 people so far, leaving an estimated loss of US$ 86,700. That is, more than R$ 400 thousand in cryptocurrencies were stolen by a fake customer support service of a large brokerage.

Beware of support, look for the official channels

In Brazil, a wave of Binance customer support groups has recently emerged on WhatsApp. However, after being asked by the livecoins, the broker stated that it has no official support group for this application, that is, all were fake groups using the platform image and harming customers. According to the PeckShield team, the best practice is “never send cryptocurrencies to external addresses on behalf of alleged support agents“. Although phishing scams are not new, they continue to modernize the way they operate and continue to leave victims around the world. It is worth mentioning that Coinbase will soon arrive in Brazil, with users and customers paying attention to official service channels as soon as they are announced.