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Coinbase: An Instant Scam Attack

Cryptocurrency is the best investment earning traders fortunes at the moment. You can join the industry to trade popular currencies such as Ethereum, Dogecoin, and Bitcoin. Keep in mind that the crypto market has had an upward trend since last year, BTC valuing around $50,000 at the moment.

However, cyber-criminals destroy the whole fun behind trading cryptocurrencies. An IT news investigator uncovered that online criminals updated their stealing ways, wiping out your account instantly. Remember, getting a crypto refund from scammers is a challenging topic for now.

Your Funds Are Never That Safe

A recent case is that of Tanja Vivodic, who lost all their investments in the name of crypto scams. Tanja and her husband have been investing in digital assets for three years. Similar to most individuals, the couple joined online trading to enjoy the fortunes of the industry.

Jared Vivodic stated that they knew the risks related to virtual products, but they did not expect to lose their money in such a scenario. Imagine waking up one day to find your entire life investments wiped out?

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Vivodic and her hubby Jared, a VA nurse, lost around $170,000 instantly after an attacker accessed their Coinbase cryptocurrency account. Keep in mind that Coinbase, through its websites, states to be the leading and trustworthy exchange platform, serving more than 43 million clients.

However, the victim claims the firm does not have enough protocols to prevent fraud. Indeed your cryptocurrency investments are never safe from hackers.

The attacker used a ‘SIM swap’ to cash out the money after access Vidovic’s account. Tanja notices a freeze in operations as her phone and internet stopped working.

An unknown person contacted Vidovic’s phone providers, pretending to be the owner, and requested a SIM swap. The attacker went ahead to complete the 2-factor verification as he was in control of Tanja’s email and phone number. After completing the changes, the attacker stole the funds available in Tanja’s Coinbase account.

It is undeniable that you have to be extra careful with your online investments. Keep in mind that hackers are developing new strategies day and night to claim your funds.

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Nicolash Ferreira Souza (Brazil)

Nicholash is a cryptocurrency user from Brazil, he is one of the new writers on Tokenhell and his articles are cryptocurrency news and reviews related posts. Stay tuned to his most recent posts to keep up to date with the most recent happenings from the crypto world.

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