An onchain investigator, ZachXBT, reportedly uncovered a Coinbase impersonation scam. The investigation revealed that the scam resulted in approximately $2 million in losses. The report highlights the persistent risk of social engineering in such schemes, where individuals are manipulated into divulging sensitive information or transferring assets. By using onchain clues, the investigator was able to trace the scam's activity and expose its connections, demonstrating the importance of blockchain analytics in combating fraud within the cryptocurrency space.

An onchain investigator, ZachXBT, reportedly uncovered a Coinbase impersonation scam. The investigation revealed that the scam resulted in approximately $2 million in losses. The report highlights the persistent risk of social engineering in such schemes, where individuals are manipulated into divulging sensitive information or transferring assets. By using onchain clues, the investigator was able to trace the scam's activity and expose its connections, demonstrating the importance of blockchain analytics in combating fraud within the cryptocurrency space.