One common type of fraud in crypto is the Coinbase text scam. In this article, we'll explore it and provide examples of different types of fraudulent messages, and provide tips on how to avoid falling victim to these.
Coinbase is one of the largest and most trusted cryptocurrency exchanges in the world. Unfortunately, scammers have taken advantage of the platform's reputation and popularity to perpetrate scams. One common type of fraud in crypto is the Coinbase text scam.
The Coinbase text scam is a type of attack where malicious actors send fraudulent text messages that appear to be from Coinbase. These messages may ask users to verify their identity, confirm a transaction, or prompt users to take other actions related to their Coinbase account. These messages typically include a link that users are asked to click on to complete the requested action.
There are several different types of text scams that are used to trick users. Some of the most common examples include:
To avoid falling victim to text scams, users at least should always follow these tips:
A phishing attack through a text message is a pretty common risk for both novice and old crypto users, but it can be avoided by following a few simple steps. By being cautious of unsolicited text messages, double-checking the sender's phone number, using two-factor authentication, and never providing personal information via text message, users can help protect their accounts and avoid falling victim to scams. It is important to stay vigilant and informed about the latest exploits and attacks in the crypto space - you an use risk management platforms like Apostro to stay informed and better guard yourself.