Fun

Coinbase is the most impersonated crypto brand by scammers: Report

News Feed - 2024-06-24 09:06:56

Zoltan Vardai11 hours agoCoinbase is the most impersonated crypto brand by scammers: ReportAlthough Coinbase continues to be the most impersonated brand in the crypto industry, Meta was targeted by over 25 times as many scammers as the exchange.1944 Total views3 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksCoinbase cryptocurrency exchange is the most impersonated brand by scammers and malicious actors in the Web3 space, according to a recent survey.


Among all United States crypto firms, the Coinbase brand was most impersonated in phishing attacks. Phishing attacks are online social schemes that aim to trick investors into willingly sending digital assets to the impersonator’s crypto wallet.


The Coinbase brand was fraudulently used across 416 reported phishing attacks in the past four years, according to a Mailsuite report shared with Cointelegraph.


The report, which analyzed over 1.14 million scams, claimed that over 249,000 of these incidents involved the attacker impersonating a company or organization.U.S. brands impersonated by scammers the most. Source: Mailsuite


Coinbase is the world’s second-largest centralized cryptocurrency exchange (CEX) with over $1.8 billion of daily crypto trading volume, according to CoinMarketCap.


Coinbase has a high trust score of 10/10 and receives over 40.9 million monthly visits, according to CoinGecko data.Crypto exchanges by trust score. Source: CoinGecko


Related:Ether restaking’s biggest risk is lack of understanding around asset looping — Haven1Meta remains the most impersonated “non-crypto” brand for scammers


While Coinbase ranked the highest among crypto firms, other traditional finance and technology brands have been impersonated by scammers on a higher scale.


According to the report, Bank of America was impersonated in 645 phishing attempts, while Mastercard was targeted in 1,262 such attempts.U.S. brands impersonated by scammers the most. Source: Mailsuite


Facebook’s parent company, Meta, was the most impersonated brand by scammers, appearing in at least 10,457 reported scam incidents during the past four years.


The U.S. Internal Revenue Service was the second on the list, having been impersonated in at least 9,762 scams.


Related:Mt. Gox trustee to start Bitcoin, Bitcoin Cash repayments in JulyCrypto scams steal $19 billion in 13 years


Crypto scams and exploits remain a growing concern, despite signs of a maturing crypto industry.


Nearly $19 billion worth of crypto was stolen in the past 13 years across 785 reported hacks and exploits, according to a Crystal Intelligence report shared with Cointelegraph.


The largest single crypto theft case remains the 2019 Plus Token fraud when attackers netted $2.9 billion worth of Bitcoin (BTC) and Ether (ETH).$3 billion stolen in hacks — Why are crypto crimes surging? Source:Cointelegraph


Crypto hacks and exploits remain one of the biggest hurdles impeding mainstream trust and adoption. Crypto hacks in 2024 could potentially top 2023, as the first quarter of 2024 saw $542.7 million worth of stolen funds, a 42% increase compared to the same period in 2023.


Magazine:Ethereum’s recent pullback could be a gift: Dynamo DeFi, X Hall of Flame# Coinbase# Phishing# Adoption# Hackers# Bitcoin Scams# Scams# Hacks# DeFiAdd reaction

News Feed

Is Bitcoin due for a correction with 5 weeks till the halving?
Zoltan Vardai15 hours agoIs Bitcoin due for a correction with 5 weeks till the halving?While Bernstein sees a $150,000 Bitcoin price target, other analysts warn of a potential correction.12445 Total views20 Total sharesL
Central Bank of Brazil Director Praises Bitcoin as a Financial Innovation, Talks Programmable Digital Real
Central Bank of Brazil Director Praises Bitcoin as a Financial Innovation, Talks Programmable Digital Real Fabio Araujo, Director of the Central Bank of Brazil, has praised the pro
Actress Gwyneth Paltrow Invests in Bitcoin Mining Operation Terawulf
Actress Gwyneth Paltrow Invests in Bitcoin Mining Operation Terawulf The American actress and businesswoman Gwyneth Paltrow has participated in an investment round involving the bi
Cardano Next In Line After XRP? ADA Price Targets $4.88 In Epic Breakout
Este artículo también está disponible en español. Cardano could be the next to surge after XRP, as the ADA price shows signs of an imminent market recovery. A crypto anal
TD Sequential Flashes Buy: Dogecoin Ready For Rebound To $0.21
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Silver Squeeze Goes Viral, Ounce of Ag Jumps Above $30, Wallstreetbets Fans Question Trend’s Legitimacy
Silver Squeeze Goes Viral, Ounce of Ag Jumps Above $30, Wallstreetbets Fans Question Trend"s Legitimacy This past week, another social media trend started on the
Big Investors Are Pushing up Valuations of Crypto Firms
Big Investors Are Pushing up Valuations of Crypto Firms Venture capital firms and large investors are driving up the prices of crypto startups. Boutique investme
SEC Drops the Ball on Crypto Regulation and There Are Long-Term Consequences, Says Commissioner
SEC Drops the Ball on Crypto Regulation and There Are Long-Term Consequences, Says Commissioner A commissioner with the U.S. Securities and Exchange Commission (SEC) has warned tha
Report: Digital Currency Exchange Kraken Under Investigation for Violating OFAC Sanctions
Report: Digital Currency Exchange Kraken Under Investigation for Violating OFAC Sanctions On Tuesday, a newly published report details that the cryptocurrency exchange Kraken is un
Ukraine’s Deputy Digital Minister Rejects ‘FTX-Democrats Narrative’
Ukraine’s Deputy Digital Minister Rejects "FTX-Democrats Narrative" Claims that Ukraine has invested military aid into the bankrupt crypto exchange FTX have been rebutted by a re
China Fines Bitmain $3.6 Million for Tax Violations, Report
China Fines Bitmain $3.6 Million for Tax Violations, Report Chinese authorities have fined leading crypto mining hardware manufacturer Bitmain for tax-related violations, local med
Bitcoin could fall below $50K if Magnificent 7 stocks stage another $500 billion loss
Zoltan Vardai10 hours agoBitcoin could fall below $50K if Magnificent 7 stocks stage another $500 billion lossBitcoin could see more downward pressure if the top tech stocks in the US continue to shed value.2749 Total vi