A WOMAN was swindled out of $36,000 in a cryptocurrency scam after receiving a distressing phone call from a fraudster pretending to be from Coinbase.
Over the years, Mary Burnett managed to save and safely store $36,000 on her Coinbase account.
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Coinbase is a platform where individuals and institutions can interact with the cryptocurrency market by buying, selling, and holding virtual currencies.
But in February, Burnett received a call from an individual claiming to be associated with Coinbase and informed her that her account was compromised.
Burnett, 72, told CBS affiliate KWCH-DT that the person on the other line warned her that someone was trying to gain access to her account.
“That scared me,” she told the outlet, describing the individual on the phone as “extremely courteous, helpful, and sincere.”
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“I couldn’t believe it, honestly. He had me so convinced that I was doing the right thing.”
To protect her money, Burnett said the person instructed her to create a Coinbase wallet and transfer her funds there.
However, what Burnett did not know was she was setting up an account for the scammer.
Once Burnett transferred the money to the newly established wallet, the thief had full access to it and proceeded to drain the account,
“I felt stupid, scammed,” an abashed Burnett said.
“I want to let people know how easy this happens. How it can happen so fast.
“How they trick you like they tricked me.”
Coinbase did not immediately respond to a request for comment.
The cryptocurrency platform clarified on its website that Coinbase phone support does not make outgoing calls.
Coinbase warned users that scammers may spoof the caller ID of the company’s real support number and call you directly.
“If someone calls you claiming to be from Coinbase Support, even if it’s from out legitimate number, they are spoofing the phone number and are trying to scam you,” Coinbase’s website reads.
“It is unfortunately common that a fraudster claiming to be from Coinbase would know some of your information, but that is not evidence that he or she represents us.
“Cybercriminals share information online, and yours may have been part of a data breach unrelated to Coinbase.”
Coinbase shared three other tips with users, including never allowing someone remote access to your computer.
Users of the cryptocurrency exchange platform should also never share personal information, such as passwords and two-factor authentication codes.
The company also said the only number associated with Coinbase Support is 1888-908-7930.
“Any other phone number you find online is a scam,” Coinbase said.
Bank tips for avoiding scams
As scams become more sophisticated with the use of artificial intelligence, it is important you know how to spot a scam:
- Be skeptical of online deals that seem too good to be true, especially on social media.
- Scammers will often use tactics to make you panicked so you make quick decisions – be cautious if you are told to take immediate action and verify who has contacted you.
- Chase Bank warns customers to “never return any unexpected funds without calling Chase first.”
- Never send money to someone you have only spoken to online or by phone as this is likely a romance scam.
- Unless you 100% know who you are talking to, never give someone remote access to your device.
- Never accept help from strangers at an ATM and always be vigilant when making withdrawals.
- Do not send money or click any links indicating that you have won a prize.
Source: Chase.com
