Coinbase Users Targeted by $45 Million Social Engineering Scam

A massive social engineering scam has resulted in over $45 million being lost from Coinbase user accounts, highlighting the vulnerabilities of even experienced crypto traders. ZachXBT, a prominent on-chain investigator, revealed that scammers used fabricated support calls and phishing websites to exploit their targets. This attack involved large transfers of ETH, DAI, and BTC through decentralized exchanges (DEXs) and mixers, quickly laundering stolen funds. The investigation traced the stolen funds to various addresses before they were further laundered across multiple platforms.