Oh, look! Crypto enthusiasts are getting swindled left and right with the latest batch of scam emails posing as Coinbase and Gemini. 🙄 These devious little missives are urging users to set up new wallets with “pre-loved” recovery phrases, which, surprise surprise, are controlled by the scammers themselves.
On the trusty platform X, users have shared examples of these emails, which claim to be from Coinbase. They’re asking folks to switch to self-custodial wallets (because who doesn’t love a bit of DIY security?) and even provide legit-looking instructions on downloading the Coinbase Wallet. The catch? You’ve got until April 1 to make the switch. April Fools’, indeed! 😂
But wait, there’s more! These emails also come with pre-generated recovery phrases. So, if you’re gullible enough to open a new wallet with those phrases and transfer your hard-earned crypto, you might as well hand over your wallet to the nearest pickpocket. 🙈
The email even throws in a mention of a class-action lawsuit against Coinbase, claiming the courts are forcing users to manage their own wallets. Because, you know, personal responsibility is all the rage these days.
“Coinbase will operate as a registered broker, allowing purchases, but all assets must move to Coinbase Wallet,” the email declares, with all the authority of a cat wearing a tiny tie.
But fear not, the US Securities and Exchange Commission (SEC) isn’t buying it. They dismissed their lawsuit against Coinbase on Feb. 27, which accused Coinbase of being an unregistered broker and selling unregistered securities. So, there’s that.
Coinbase, ever the responsible party, told CryptoMoon they’re aware of the scam and pointed to their March 14 post on X. “We will never send you a recovery phrase, and you should never enter a recovery phrase given to you by someone else,” they said, as if explaining to a toddler that you don’t take candy from strangers.
But wait, Gemini’s getting in on the fun too! They’ve been spoofed with the same recovery phrase email scam. Same tactics, same bs about needing to set up a new wallet because of a court decision. Because, you know, legal stuff is sooo interesting.
Gemini was also being sued by the SEC for allegedly offering unregistered securities through its earn program. But the regulator decided to drop the case on Feb. 26. Phew, that was close!
Gemini, however, didn’t rush to comment on the issue. Maybe they’re too busy counting their money. 🤑
Blockchain security firm CertiK’s annual Web3 security report highlighted crypto phishing attacks as the biggest security threat of 2024, costing users a cool $1 billion across 296 incidents. Because, you know, nothing says “trust the system” like losing a billion dollars to scammers.
And if that wasn’t enough, at least three crypto founders have reported foiling North Korean hackers’ attempts to steal sensitive data through fake Zoom calls. Because who doesn’t love a good ol’ Zoom call with a side of malware?
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2025-03-17 05:12