Coinbase Users Fall Victim to $46 Million in Suspected Scams: A Closer Look at Recent Hacks
A worrying turn of events for the crypto world, a blockchain investigator by the name of Zachxbt has put together a report suggesting that users of the popular exchange Coinbase have been falling prey to high-dollar thefts of late, with the value of those thefts adding up to an eye-popping $46 million in just the past couple of weeks. The shadiest dealing associated with this report seems to have gone down last Thursday, when a Coinbase user was seen getting scammed out of $34.9 million— The traced stolen funds have a not-so-simple story to tell. This is because they pass through Thorchain and Chainflip, two decentralized cross-chain protocols, before being exchanged for DAI (a decentralized stablecoin). These thefts in a series of complex hacks really test the security of the cryptocurrency ecosystem. With so many complex methods of robbing coins, […]
