Coinbase recently sent out a warning after discovering that one of its employees may have accessed user data without permission, violating internal company rules.
The warning was sent out through an email to Mike Dudas, who is the co-founder of The Block. Dudas shared the email with the public, which led to more people learning about the potential breach.
The email also mentioned a growing problem with scammers impersonating Coinbase in order to steal users’ funds. It made it clear that Coinbase would never ask customers to move or manipulate their funds.
In the email, Coinbase said they found evidence suggesting that one of their employees had looked at a few customer accounts, including Dudas’ own account. The company stated that the review was not in line with internal policies.
Dudas shared the email to warn others, especially since scammers have been targeting Coinbase users lately. In fact, many in the crypto community have been concerned about phishing scams becoming more common.
Crypto trader Jordan Fish, also known as Cobie, suggested that this might be part of a larger trend. He mentioned that Kraken, another cryptocurrency exchange, may have faced a similar situation. “Maybe new scheme from attackers (get a CS agent employee in, exfil data),” Fish said, hinting at the possibility of attackers gaining access through employees.
Phishing scams targeting crypto users have been on the rise recently, and these attacks are growing more sophisticated. ZachXBT, a well-known crypto researcher, claimed that phishing scams had caused Coinbase users to lose over $46 million in the previous month alone.
In response, Coinbase said they were investigating the claims made by ZachXBT. A Coinbase spokesperson said, “We are aware of ZachXBT’s claims and are investigating,” but did not provide further details at the time.
At the moment, Coinbase has not provided more information on how many users were affected or the full details of the breach. The company promised to investigate and keep the public informed.
Also Read: Coinbase Stock Drops 30% in Q1 2025 Amid Crypto Slump
