A Man Disguised as Coinbase Support Scams About $16 Million in Cryptocurrency

BlockBeats News, December 21st, the Brooklyn District Attorney's Office in New York stated that a 23-year-old Brooklyn resident has been charged with orchestrating a phishing scam to steal nearly $16 million from around 100 Coinbase users. The individual impersonated a Coinbase customer support representative, tricking victims into transferring assets to their personal address, and then laundered the funds through a cryptocurrency mixer.

As of now, law enforcement has recovered approximately $105,000 in cash and $400,000 worth of cryptocurrency. Coinbase CEO Brian Armstrong warned that the perpetrator will be held accountable and brought to justice.