Coinbase Email Scam
From a novel idea, cryptocurrencies have managed to become a common fixture in our modern society during the past couple of years, especially, when multiple crypto-coins have enjoyed a massive boom in popularity. Unfortunately, becoming mainstream also has caught the attention of numerous cybercriminals and they have begun exploiting the cryptocurrency sector in a variety of ways.
One of the latest operations detected by security researchers is a phishing email scheme. The campaign distributes fake emails designed to look like official correspondence coming from Coinbase. Coinsbase is one of the more widely used platforms for buying and selling cryptocurrencies. The goal of the fraudsters is to obtain users' login credentials.
The phishing emails may appear legitimate at first glance, with the con artists likely copying the layout, logos, pictures, and phrasing from normal Coinbase emails. The actual message in the email may differ from case to case but, generally, it attempts to scare the users by claiming that their Coinbase accounts have been disabled. To regain access, users will have to 'verify' their identity allegedly by clicking on the link provided in the email. Instead of the official login page, the link takes the potential victim to a phishing page asking for credentials such as account names and passwords. All information entered into the page will be logged and uploaded to servers under the control of the fraudsters. Upon gaining access to such sensitive information, the criminals can then perform various illicit actions leading to significant monetary losses for the victims.
To prevent such disastrous outcomes, users should always exercise caution when dealing with unexpected emails.