Summary
- Users of the cryptocurrency exchange Coinbase have recently suffered losses of $65 million due to social engineering attacks.
- It is estimated that such attacks result in annual losses of approximately $300 million.
- Attackers are explained to impersonate Coinbase official communications to steal user funds through fake emails.
On the 4th (local time), cryptocurrency-focused media outlet CoinDesk cited blockchain security expert ZachXBT, stating, "Users of the cryptocurrency exchange Coinbase have suffered losses exceeding $65 million over the past two months due to social engineering attacks, with estimated annual losses of around $300 million from such attacks."
Furthermore, it was explained that "hackers used stolen personal data to send fake emails mimicking official communications from Coinbase," adding that "these cases include instances where users are tricked into transferring funds to fraudulent wallets."
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