Michaela
Crypto exchanges Binance and Kraken have reportedly fallen victim to phishing attacks similar to those recently targeting Coinbase, raising concerns over growing cybersecurity threats in the cryptocurrency sector.
According to a Bloomberg report, the crypto exchanges confirmed that no customer data was compromised during these attacks. Robust internal security measures played a key role in preventing any breaches.
The report also revealed that, in a filing with the U.S. Securities and Exchange Commission (SEC), Coinbase disclosed that cybercriminals had bribed offshore customer service agents to obtain access to user data and account management information.
Coinbase disclosed that the attackers aimed to create a list of customers to impersonate the company and trick victims into handing over their crypto holdings. Following the operation, the perpetrators reportedly demanded $20 million from Coinbase to keep the breach confidential, a request the company declined.
It remains uncertain whether the scammers targeting Coinbase were the same individuals who attempted to bribe customer service agents at Binance and Kraken. According to reports, attackers sought to obtain sensitive customer information, including account balances and residential addresses, by approaching representatives at these exchanges.
However, both exchanges’ AI-driven security systems successfully detected the attack vectors and promptly blocked the phishing attempts.
Binance and Kraken Avoid Losses as Coinbase Faces Growing Scam Fallout
Coinbase has long been under scrutiny from the community due to substantial customer losses linked to social engineering scams.
In early May, on-chain analyst ZachXBT reported via his Telegram channel that Coinbase users lost an additional $48 million within a single week. This recent surge in losses adds to a growing pattern of Coinbase customers falling prey to social engineering scams.
The on-chain investigator emphasized that over the past several months, he has tracked nine-figure sums stolen from Coinbase users. ZachXBT attributed these losses, which exceed $300 million annually, to Coinbase’s aggressive risk models and its failure to adequately prevent such attacks.
In his Telegram post, ZachXBT had already emphasized a crucial point—that no other exchange was experiencing issues on the scale of Coinbase. This observation gains new significance in light of recent reports that Binance and Kraken faced similar phishing attempts but successfully prevented any breaches.
Read More
- ZachXBT Slams Coinbase Over Account Lockout and Data Breach
- Judge Ships Binance Crypto Theft Case to Florida in Bid to Speed Things Up
- SEC Agrees to Dismiss Kraken Lawsuit, No Penalties Imposed
Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
