Coinbase Users Lose $2M in Sophisticated Social Engineering Scam
A recent investigation by prominent blockchain sleuth ZachXBT has uncovered a sophisticated social engineering scheme targeting Coinbase users, resulting in over $2 million in stolen cryptocurrency. The scam, orchestrated by a fraudster operating under the alias 'Haby' from the Vancouver area, involved impersonating Coinbase customer support representatives to gain remote access to victims' accounts. According to the report, the scammer employed elaborate tactics to deceive users into providing access, subsequently draining their digital wallets. One notable theft involved the liquidation of $237,000 from an Exodus wallet, while another individual lost $44,000 in XRP. The investigation highlights the ongoing security challenges within the cryptocurrency ecosystem, particularly on major exchanges like Coinbase. While the bullish long-term thesis for digital assets remains intact—centered on decentralization, financial inclusion, and technological innovation—this incident serves as a critical reminder of the importance of user vigilance and robust security practices. As the industry matures, enhancing security protocols and user education will be paramount to building trust and fostering wider adoption. The funds, once stolen, were reportedly funneled through various channels, underscoring the need for improved traceability and regulatory frameworks to combat such fraudulent activities. This event is unlikely to deter the fundamental growth trajectory of cryptocurrencies but emphasizes the sector's evolving nature where security and user protection must continuously advance alongside technological development.
Canadian Scammer Posed as Coinbase Support to Steal $2M in Crypto, ZachXBT Reveals
A Vancouver-area fraudster operating under the alias 'Haby' siphoned over $2 million from Coinbase users through an elaborate social engineering scheme, according to blockchain investigator ZachXBT. The scammer posed as customer support staff to gain remote access to victims' accounts, then drained wallets—including a single $44,000 XRP theft and a $237,000 Exodus wallet liquidation.
Funds were funneled through instant exchanges to Bitcoin, with proceeds squandered on Telegram vanity usernames, nightclub bottle service, and high-risk gambling. ZachXBT's forensic thread—backed by screenshots, email trails, and Immutable blockchain records—has sparked calls for Royal Canadian Mounted Police intervention.
The case underscores persistent security gaps in crypto's customer service channels, particularly around identity verification. Coinbase has yet to comment on whether affected users will be reimbursed.
Coinbase Forecasts 2026 Crypto Trends as DeepSnitch AI Raises $940K in Presale
Coinbase's latest market analysis predicts a seismic shift in cryptocurrency valuation metrics by 2026, with perpetual futures, prediction markets, and stablecoins emerging as dominant forces. The exchange's research suggests speculative HYPE will yield to projects demonstrating tangible on-chain utility—a transition already visible in presale phenomena like DeepSnitch AI's $940K fundraising.
The DeepSnitch intelligence suite exemplifies this trend, offering real-time blockchain monitoring through five specialized AI agents. Three operational modules—including whale-tracking SnitchFeed and portfolio-screening SnitchScan—provide institutional-grade market surveillance during Stage 3 presale at $0.03080 per token.
Market participants face increasing complexity in identifying value amid volatility. Coinbase's framework emphasizes infrastructure capable of tracking capital rotations across derivatives, prediction ecosystems, and stablecoin flows—precisely the niche DeepSnitch targets with its classified intel dashboard.
