Get to know quickly
- Yesterday, Nick Neuman (CEO of Casa) admitted victim of scammer Act as a Coinbase Support Member.
- In an unusual incident, he got the conman to admit Five figures worth of cryptocurrency stolen every week.
- Neumann Tweeted his entire call with the imposterhe was willing to describe his entire fraud in in-depth detail.
brazen Cryptocurrency phishing scam targets respected blockchain expert Net income in the five figures per week.
But Nick Newman (CEO of Bitcoin self-custody provider Casa) is not someone to be ignored.
Cybersecurity Professional Uncovering one of the fake Coinbase support members As a liar.
He did not become prey; Learn more about the scam tactics of impostors and made his self-confessed crimes public.
Coinbase fraudster made $35,000 two days ago
After picking up A call from a scammer (and cleverly record the entire conversation), Neumann Shared his bizarre experience on X.
Initially, the liar Investigate Neuman reset his Coinbase password Via spoofed emails that resemble legitimate Coinbase notifications.
However, the answer he gets may not be what he wants.
Newman asked pointedly: “I’m curious, how many people do you typically encounter when you try to phish them?”
Hackers soon removed the switch from From supportive Coinbase member to self-proclaimed scammer Discuss their unworthy piggy bank.
We were making at least five figures a week. Just two days ago, our stock price hit $35,000. We do this for a reason. You know what I mean? There’s money to be made in it.
He then goes on to explain how they “do not call the poor.” instead, They target people in the blockchain industry (CEOs and software engineers) hold at least $500,000.
Their wealth was exploited because they had access to the Unchained database, a financial services company that offers crypto loans to users as long as they own $375,000 worth of BTC.
Furthermore, he admitted that they had Automated doxxer to investigate victim identitysave time by ensuring they are valuable targets.
If those who were exploited retained sizable cryptocurrency balances, Scammers assume they have a Coinbase account (Since this is a popular exchange). If not, they hang up and continue the scam.
KYC platforms are a no-go zone for scammers
In addition to identifying the suspect’s reasons, Neumann Examined many aspects of misleading operations.
Finally the liar admitted Their goal is not to receive the password But to steal funds through this cunning process:
- Detect victim clicks on phishing pages
- Direct them to a page with a new mnemonic phrase
- Instruct them to use the mnemonic phrase to create a new Coinbase cold wallet
- Ask them to whitelist the new wallet address
- Convince them to transfer digital assets to the scammer’s account
Furthermore, he explained that they do not use platforms with KYC measures and transfer funds into $XMR, a Cryptocurrency using advanced encryption technology cover up transaction details).
final, Transfer funds to $ETH Hold for the long term in wallets like Ledger and Exodus to earn extra yield when the price rises.
Even Cryptocurrency Experts Can’t Guard Against Scams
Incidents like this highlight a troubling reality You need to be vigilant in the DeFi field. When it comes to money, no one can be trusted.
While the scammers’ tactics are clever, they are particularly alarming because they demonstrate that no level of cryptographic expertise can protect against scams.
it reminds us clearly Privacy is the best defense mechanism Combating the dark underbelly of blockchain technology.
refer to
Leah is an experienced UK journalist with 9 years of expertise specializing in Web3 reporting. Her insightful contributions have graced the pages of many respected publications, including Coinbound, Cointelegraph, Bitcolumnist, NFT Lately, and NFT Plazas. With a keen eye for detail, she provides a unique perspective on the evolving blockchain industry.
View all posts by Leah Waters (Algiers)
Central to Technical Report’s editorial policy is the provision of useful, accurate content that provides real value to our readers. We only work with experienced writers who have specific knowledge of the topics they cover, including the latest developments in technology, online privacy, cryptocurrency, software, and more. Our editorial policy ensures that every topic is researched and curated by our in-house editors. We maintain strict journalistic standards and every article is 100% written by authentic authors.
