Beware the Coinbase Phone Scam (Patreon)

The Coinbase phone scam, particularly the version where the call appears to come from Salt Lake City, Utah, involves a social engineering tactic designed to exploit users' concern for their account security. Here is how they do it - I just got off the phone with one and of course gave them all false info:

Scammers use a technique called caller ID spoofing, where they can make it seem like the call is coming from a legitimate source or location, in this case, Salt Lake City, Utah.

They contact you claiming that there's been an unauthorized login attempt or transaction from your Coinbase account.

The message might prompt you to respond if you didn't initiate the login, suggesting that replying with a specific word or phrase will secure your account. Alternatively, they might directly call, pretending to be from Coinbase's security team.

Before the call, scammers might already have some of your personal information, possibly from data breaches or leaks, which they use to make their claims more believable. This could include your name, email, your address, or even partial account details.

The Scam's Goal: The ultimate aim is to trick you into providing more information, like your login credentials, two-factor authentication codes, or even direct access to your account to "secure" it. This idiot tried to have me to go a website with a URL (which I will not repeat as it will hijack your computer).

Once they gain this information, they can transfer your cryptocurrencies or other assets out of your account.