Sophisticated Phishing Scams Target Coinbase Users Amid Rising Crypto Security Threats

These fraudsters methodically build trust through multiple interactions across different phone numbers while gradually extracting sensitive information. The scheme culminates when scammers request the victim’s wallet seed phrase, crossing the fundamental security boundary that protects cryptocurrency holdings.

Beyond upsetting that @coinbase is going to steal $4,000 of my own money from me because @CoinbaseSupport is completely incompetent after the many hours I spent across seven support requests I raised where they claimed:

-“I have escalated this and a specialist will contact you… pic.twitter.com/W5cZQRMBnQ

— Bludex (@0xBludex) July 29, 2025

Steve maintained his suspicions throughout the encounter and recognized the cardinal rule of crypto security: surrendering your seed phrase means losing control of your digital assets. However, the combination of manufactured urgency and fear tactics can pressure even cautious users into revealing information they would normally protect.