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New wallet-draining scam among Coinbase users.

wallet-draining scam

Experts warn a new wallet-draining scam  regarding Coinbase.

Coinbase’s “urgent” emails should be taken with grain of salt.

PIXM researchers found an email campaign regarding wallet-draining scam  from Coinbase.
Attackers impersonated Coinbase to steal account 
The email warns the Coinbase user that their account has “urgent matter.” 
Sometimes they must confirm transaction or supply  additional information to avoid account lockout.
Bypassing 2FA
Regardless of the email’s content, it always conveys 
urgency and provides link to log into the platform and fix 
the problem regarding the account.

The URL links to bogus Coinbase website and hence scam starts.

Now it’s progressed. 
Most users have two-factor authentication enabled, therefore criminals bypassed it easily.
When user enters their password, they’re sent to the real Coinbase site and asked for their 2FA code
The victim is sent to site that claims “account suspended” and hence it offers “customer help.” 
This is not Coinbase customer assistance, but rather the continuation of a wallet draining scam in which the attackers try to collect personal information from the victim.

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