$45 MILLION STOLEN FROM COINBASE USERS IN THE LAST WEEK — ZACHXBT

Last updated: June 19, 2025, 23:30 | Written by: Cathie Wood

Imagine logging into your Coinbase account, only to discover that your hard-earned cryptocurrency has vanished. Known wallet coinbase-hold.eth linked to multiple user thefts across blockchain networks. ZachXBT urges Coinbase to improve verification, support, and theft address flagging systems. Coinbase users lost $45 million last week through an ongoing wave of social engineering scams, according to blockchain analyst ZachXBT. The losses stem fromThis nightmare scenario has become a harsh reality for many Coinbase users, with a staggering $45 million stolen in just the last week.The alarming revelation comes from prominent on-chain sleuth and security analyst, ZachXBT, who has been diligently tracking the rising tide of social engineering scams targeting the popular cryptocurrency exchange. Onchain sleuth and security analyst ZackXBT claims to have identified an additional $45 million in funds stolen from Coinbase users through social engineering scams in the past seven days alone.These aren't sophisticated hacks exploiting technical vulnerabilities; instead, they prey on human psychology, manipulating unsuspecting users into divulging sensitive information. Blockchain investigator ZachXBT revealed that Coinbase users lost another $45 million over the past week due to coordinated social engineering scams. The update, shared on his Telegram channel, identifies multiple wallet addresses connected to the theft and links the latest activity to a broader pattern of crypto heists that has persisted for months.ZachXBT's findings paint a grim picture of a persistent and increasingly sophisticated threat landscape where malicious actors are successfully leveraging deception to drain user accounts.This isn't just a one-off incident; it's part of a larger pattern, revealing potential systemic issues within Coinbase's security protocols and user support systems.This article will delve into the specifics of these scams, explore how they operate, and provide actionable advice to help you protect yourself from becoming the next victim.We'll also examine ZachXBT's findings and discuss the implications for Coinbase and the broader crypto community. Blockchain investigator ZachXBT revealed that Coinbase users lost another $45 million over the past week due to coordinated social engineering scams. The update, shared on his Telegram channel, identifies multiple wallet addresses connected to the theft and links the latest activity to a broader pattern of crypto heists that has persisted forIs Coinbase doing enough to protect its users?Let's find out.

Understanding the Social Engineering Scams Targeting Coinbase

Before we dive deeper, let's clarify what exactly constitutes a social engineering scam. Related: $45 million stolen from Coinbase users in the last week ZachXBT. The crypto exchange joins Tesla (TSLA) and Block Inc. (SQ) as large corporate Bitcoin holders currently in the index fund.Unlike traditional hacks that exploit technical flaws in software or hardware, social engineering relies on manipulating individuals to gain access to sensitive information or systems.Scammers often impersonate trusted entities, such as Coinbase support staff, bank representatives, or even friends and family, to trick users into divulging their passwords, private keys, or two-factor authentication codes.

These scams can take many forms, including:

Phishing emails: Deceptive emails that appear to be from Coinbase, prompting users to click on malicious links or enter their credentials.
Fake websites: Imitation Coinbase websites designed to steal usernames and passwords.
Phone scams: Scammers impersonating Coinbase support representatives, pressuring users to take immediate action or provide sensitive information over the phone.
Social media scams: Fake Coinbase accounts on platforms like Twitter or Facebook, used to spread misinformation or trick users into engaging with malicious links.
Romance scams: Scammers building relationships with victims online, eventually persuading them to invest in fraudulent cryptocurrency schemes.

The common thread in all these scams is the exploitation of human trust and vulnerability.Scammers are adept at crafting believable narratives and using psychological tactics to bypass security measures.

ZachXBT's Investigation: Unveiling the Scope of the Problem

ZachXBT, a well-respected figure in the crypto community, has been instrumental in uncovering the scale of these social engineering attacks. Coinbase users (COIN) are being relentlessly targeted by social engineering scams, with a shocking $45 million reportedly stolen in just the last week, according to on-chain detective ZachXBT. This figure represents the latest in a series of scams that have been plaguing Coinbase users.His on-chain analysis has revealed that $45 million was stolen from Coinbase users in just the last week, adding to a concerning trend of escalating losses.

According to ZachXBT's findings, the stolen funds are often routed through multiple wallets and exchanges in an attempt to obscure their origin and make them difficult to trace. Crypto detective ZachXBT reported the discovery of 14 fraudulent addresses that stole $45 million from users accounts on the cryptocurrency exchange Coinbase within a week. The perpetrators employed social engineering schemes that allowed them to deceive trusting users, yet the exchange itself has not taken any action in response to thisHowever, ZachXBT's meticulous investigation has identified several wallet addresses associated with the scams, linking them to a broader network of malicious actors.One particular address of note is ""coinbase-hold.eth,"" which appears to be a consolidation address used to gather funds from numerous victims across different blockchain networks.He also noted a lack of reporting on the part of Coinbase regarding these theft addresses in compliance tools, hindering efforts to track and recover stolen funds.

The fact that this level of theft can occur in such a short period highlights the urgent need for Coinbase to take more proactive measures to protect its users.

How are the Scams Executed?A Closer Look

Let's break down how these social engineering scams typically unfold:

Initial Contact: The scammer initiates contact with the victim through email, phone, social media, or other channels.They may pose as Coinbase support, a trusted friend, or even a romantic partner.
Establishing Trust: The scammer attempts to build trust with the victim by providing convincing information or offering seemingly helpful assistance. 0. Crypto detective ZachXBT has revealed that $45 million was stolen from user accounts on the Coinbase exchange within a week. The analysis showed that the perpetrators used 14 fraudulent addresses that employed social engineering schemes to deceive victims.They may reference legitimate Coinbase policies or security procedures.
Creating Urgency: The scammer creates a sense of urgency or fear, pressuring the victim to take immediate action.They may claim that the victim's account has been compromised or that they need to verify their identity urgently.
Requesting Information: The scammer asks the victim to provide sensitive information, such as their password, two-factor authentication code, or private key.They may use various pretexts to justify the request, such as ""verifying your account"" or ""recovering your funds.""
Account Takeover: Once the scammer has obtained the victim's credentials, they can access their Coinbase account and transfer the funds to their own wallet.
Covering Tracks: The scammer attempts to cover their tracks by routing the stolen funds through multiple wallets and exchanges, making it difficult for investigators to trace the money.

These scams often exploit users' fear of losing their investments and their desire to protect their accounts. Over $45 million was stolen from Coinbase users in the past week through sophisticated social engineering scams, as reported by blockchain investigator ZachXBT. This event highlights significant vulnerabilities in Coinbase s security system and indicates a need for improved user verification processes.By creating a sense of urgency and appearing to offer helpful assistance, scammers can manipulate even the most cautious individuals.

The Role of Coinbase: What Can Be Done?

While users bear the primary responsibility for protecting their accounts, Coinbase also has a crucial role to play in preventing these scams.ZachXBT has urged Coinbase to improve its verification, support, and theft address flagging systems. According to the onchain detective, the $45 million figure represents the latest financial losses in a string of social engineering scams targeting Coinbase users, which ZackXBT said is a problem unique among crypto exchanges: Over the past few months, I have reported on nine figures stolen from Coinbase users via similar social engineeringHere are some specific actions that Coinbase could take:

Enhanced Verification Procedures: Implement more robust verification methods to prevent scammers from creating fake accounts or impersonating legitimate users.
Improved User Support: Provide users with faster and more responsive support channels to address their concerns and report suspicious activity.
Proactive Monitoring: Use advanced monitoring tools to detect and flag suspicious transactions or account activity.
User Education: Educate users about the common tactics used in social engineering scams and provide them with clear guidelines on how to protect themselves.
Address Blacklisting: Actively blacklist addresses associated with known scams and prevent users from sending funds to these addresses.
Collaboration with Law Enforcement: Work closely with law enforcement agencies to investigate and prosecute scammers.

Moreover, improving the communication around potential scams, flagging addresses promptly, and offering more support for those impacted by these social engineering attacks are all essential steps in combating the problem.The lack of action regarding theft address reporting to compliance tools, as noted by ZachXBT, is a critical area requiring immediate improvement. A staggering $45 million was drained from Coinbase users in just one week, according to blockchain security expert ZachXBT, who sounded the alarm on a growing wave of social engineering scams targeting the platform s customers. Unlike hacks that exploit technical vulnerabilities, these scams exploit human trust.It hinders the ability to track and potentially recover the stolen assets.

Protecting Yourself: Actionable Steps for Coinbase Users

While Coinbase works on improving its security measures, it's crucial for users to take proactive steps to protect their accounts.Here are some actionable tips:

Enable Two-Factor Authentication (2FA): This adds an extra layer of security to your account, requiring a code from your phone or authenticator app in addition to your password.
Use a Strong, Unique Password: Avoid using easily guessable passwords or reusing the same password across multiple accounts.Consider using a password manager to generate and store strong passwords.
Be Wary of Suspicious Emails and Phone Calls: Never click on links or provide personal information in response to unsolicited emails or phone calls.Always verify the sender's identity before taking any action.
Enable Address Whitelisting: Only allow withdrawals to pre-approved addresses to prevent unauthorized transfers.
Verify Coinbase's Official Communication Channels: Always double-check that you are communicating with legitimate Coinbase support channels. Onchain sleuth and security analyst ZachXBT claims to have identified an additional $45 million in funds stolen from Coinbase users through social engineering scams in the past seven days alone.Be suspicious of anyone who contacts you through unofficial channels or asks for your password or private key.
Report Suspicious Activity: If you suspect that you have been targeted by a scam, report it to Coinbase immediately.
Stay Informed: Keep up-to-date on the latest social engineering tactics and security threats. Blockchain investigator ZachXBT revealed that Coinbase customers misplaced one other $45 million over the previous week on account of coordinated social engineering scams. The replace, shared on his Telegram channel, identifies a number of pockets addresses related to the theft and hyperlinks the newest exercise to a broader sample of cryptoFollow reputable crypto news sources and security experts on social media.
Never Share Your Private Keys: This is perhaps the most crucial rule. ZachXBT claims that in the vast majority of cases, Coinbase does not report the addresses of the thieves in popular compliance tools at all, even if the thefts last for weeks. This is despite the fact that users ask the company for help. Earlier, crypto detectives reported that Coinbase users lose more than $300 million a year due to socialYour private keys are the keys to your cryptocurrency wallet. Onchain investigator and well-known security analyst ZachXBT has uncovered an additional $45 million siphoned from Coinbase users in just the past week, spotlighting an escalating wave of social engineering scams that continues to hit the U.S.-based crypto exchange harder than any of its peers.Never, under any circumstances, share them with anyone.

By taking these precautions, you can significantly reduce your risk of falling victim to a social engineering scam.

Real-World Examples: Learning from Others' Mistakes

To further illustrate the importance of vigilance, let's look at some real-world examples of social engineering scams targeting Coinbase users:

The Fake Support Call: A user received a phone call from someone claiming to be Coinbase support.The caller stated that the user's account had been compromised and requested their password to ""verify"" their identity.The user, panicked by the news, provided their password, and the scammer immediately drained their account.
The Phishing Email: A user received an email that appeared to be from Coinbase, warning them of suspicious activity on their account. Coinbase Global will be listed on S P 500 on May 19, $45 million stolen from Coinbase users in the last week ZachXBT was also seen as an S P 500 candidate last year. However, firmsThe email contained a link to a fake Coinbase website, where the user was prompted to enter their username and password.The scammer then used these credentials to access the user's account.
The Romance Scam: A user met someone online who claimed to be a successful crypto investor.Over several months, they built a strong relationship. Last week, users on Coinbase, America s largest crypto exchange, lost $45 million to bad actors through such attacks. For the uninitiated, a social engineering scam involves manipulating users to share sensitive information with a scammer.Eventually, the scammer persuaded the user to invest in a fraudulent cryptocurrency scheme, promising high returns.The user invested a significant amount of money, only to realize that they had been scammed.

These examples highlight the diverse range of tactics used by scammers and the importance of staying vigilant and skeptical.

The Cost Beyond the Dollars

It’s easy to get caught up in the $45 million figure, but the true cost of these scams extends far beyond the monetary loss. Coinbase users continue to be the target of ever-evolving and sophisticated social engineering attacks, according to onchain detective ZachXBT.Victims often experience significant emotional distress, including feelings of shame, guilt, and anger. Onchain sleuth and security analyst ZachXBT claims to have identified an additional $45 million in funds stolen from Coinbase users through social engineering scams in the past seven days alone.According to the onchain detective, the $45 million figure represents the latest financial losses in a stThe sense of betrayal can be particularly devastating, especially in cases where the scammer impersonated a trusted individual or built a relationship with the victim.

The reputational damage to Coinbase is also a significant consequence.While the company may not be directly responsible for the actions of scammers, the perception that its platform is vulnerable to these attacks can erode trust and discourage new users from joining the crypto ecosystem.

Addressing Common Questions

Here are some common questions that Coinbase users may have about social engineering scams:

What should I do if I suspect I've been scammed?

If you suspect that you have been targeted by a social engineering scam, take the following steps immediately:

Change your Coinbase password: Use a strong, unique password that you haven't used before.
Enable two-factor authentication (2FA): If you haven't already, enable 2FA to add an extra layer of security to your account.
Report the incident to Coinbase: Contact Coinbase support as soon as possible to report the scam.Provide them with as much detail as possible, including the date and time of the incident, the scammer's contact information, and any other relevant information.
Report the incident to the authorities: Consider reporting the scam to your local law enforcement agency or the Federal Trade Commission (FTC).
Monitor your accounts: Keep a close eye on your Coinbase account and other financial accounts for any suspicious activity.

Is Coinbase responsible for my losses?

Whether or not Coinbase is responsible for your losses depends on the specific circumstances of the scam.In general, Coinbase is not liable for losses that result from your own negligence, such as providing your password to a scammer. Over $45 million has been stolen from Coinbase users in just one week through social engineering scams, according to blockchain investigator ZackXBT. The thefts are part of a larger pattern of increasingly sophisticated attacks that target human vulnerabilities rather than technical flaws.However, Coinbase may be held liable if it failed to implement adequate security measures or if its employees were involved in the scam.

How can I recover my stolen funds?

Recovering stolen funds from a social engineering scam can be extremely difficult, especially if the scammer has already routed the money through multiple wallets and exchanges.However, you may be able to recover some of your funds by working with law enforcement and cryptocurrency tracing services.It's crucial to act quickly and provide as much information as possible to aid in the investigation.

The Broader Implications for the Crypto Industry

The rise of social engineering scams targeting Coinbase users is not an isolated problem. Blockchain investigator ZachXBT revealed that Coinbase users lost another $45 million over the past week due to coordinated social engineering scams. The update, shared on his Telegram channel, identifies multiple wallet addresses connected to the theft and links the latest activity to a broader pattern of crypto heists that has persisted for months. The report ZachXBT reveals CoinbaseIt reflects a broader trend of increasingly sophisticated attacks targeting the cryptocurrency industry as a whole.As the value of cryptocurrencies continues to rise, they become an increasingly attractive target for criminals.

These scams not only harm individual users but also damage the reputation of the crypto industry and hinder its adoption by mainstream investors. The breach has exposed a broader issue with persistent social engineering scams targeting Coinbase users. On-chain analyst ZachXBT reported that users lost $45 million to such scams in just the past week. He further revealed that these attacks have continued for several weeks, with another $46 million stolen earlier.To address this problem, the industry needs to work together to improve security standards, educate users, and combat malicious actors.

Conclusion: Staying Vigilant in a High-Risk Environment

The alarming report from ZachXBT highlighting $45 million stolen from Coinbase users in the last week serves as a stark reminder of the ever-present threat of social engineering scams in the cryptocurrency world. Popular blockchain investigator ZachXBT has revealed that Coinbase users lost an additional $45 million to social engineering scams just in the past week.These scams, which exploit human trust and vulnerability, pose a significant risk to both individual users and the industry as a whole.While Coinbase has a crucial role to play in improving its security measures and user support, it is ultimately up to each individual user to take proactive steps to protect their accounts. BlockBeats News, May 8th, Crypto detective ZachXBT posted on his personal channel stating that over 45 million US dollars were once again stolen from Coinbase users through a social engineering scam last week.By enabling two-factor authentication, using strong passwords, being wary of suspicious communications, and staying informed about the latest scam tactics, you can significantly reduce your risk of becoming a victim.Remember to never share your private keys, and if something feels off, trust your gut.The crypto space can be a wild west, and vigilance is your best defense. Internet reports that crypto detective ZachXBT posted information on his personal channel revealing that more than $45 million was stolen from Coinbase users through social engineering scams last week. ZachXBT added: In the past few months, I have reported nine figures of money stolen from Coinbase users through similar social engineeringLet this situation push you to make your account more secure *today*. When ZachXBT traced the theft, it led to a consolidation address linked to 25 other victims and a known ENS name, coinbase-hold.eth. $300M per year and counting. According to data compiled by ZachXBT and fellow investigator @tanuki42_, Coinbase users lost at least $65 million in December 2025 and January 2025 alone.Don’t wait until it’s too late.

Key takeaways:

Social engineering scams are a serious threat to Coinbase users.
ZachXBT's investigation has revealed that $45 million was stolen in just the last week.
Coinbase needs to improve its verification, support, and theft address flagging systems.
Users must take proactive steps to protect their accounts, including enabling 2FA and using strong passwords.
Staying informed and skeptical is crucial in preventing these scams.

The fight against social engineering scams is an ongoing battle. MSNBy working together and staying vigilant, we can protect ourselves and build a more secure and trustworthy cryptocurrency ecosystem. According to on-chain investigator ZachXBT, Coinbase users suffered over $45M in losses linked to social engineering. The independent analyst shared a series of addresses linked to the alleged scammers. ZachXBT noted $45M in outflows from Coinbase users in the past week alone.Always remain vigilant and report suspicious activity to Coinbase immediately.