Text Scam Alert | Users Warn of Ongoing Coinbase Phishing Attempts
Edited By
Ayesha Khan
A rising number of people are reporting suspicious texts claiming to be from Coinbase, raising concerns about widespread scams as some receive multiple messages in a single day.
Many are sharing experiences online about receiving unsolicited texts purportedly containing withdrawal codes from Coinbase, a popular cryptocurrency exchange. One reported text reads: "coinbase: your withdrawal Code is 20617. Please do not share this code with anyone" Many agree this is clearly a phishing attempt.
Users have reacted swiftly, emphasizing the importance of caution. For example, one user said, "Remember zero trust and be safe out there." Another added, "The +63 country code should be a dead giveaway," hinting at the origin of these scams.
Reports suggest that such scams can escalate beyond text messages. Some individuals are receiving phone calls from the same area code, prompting a collective emphasis on skepticism.
"Official Coinbase communications will only come from verified emails," warned another user, underscoring the need for authentication before sharing any personal information.
Significant Themes on User Boards
Awareness of Phishing: Users are actively educating each other about red flags.
Cautionary Advice: Many stress the importance of keeping personal details secure.
Rising Frequency: Scammer texts are increasingly common.
Key Points to Consider:
📉 "I get these twice a week and I’ve never set up a Coinbase account." - User testimonial.
🚫 "Don’t respond to those" highlights advice circulating among users.
🔒 "If there was ever a problem, you would be notified within your actual account."
As 2025 continues, the urgency grows for individuals to recognize these scams and report them. Stay informed and protect your personal information. For any issues related to Coinbase, it’s crucial to reach out directly to official customer support.
Future Trends in Cryptocurrency Scams
There’s a strong chance that as the crypto market grows, the number and sophistication of scams will increase. Experts estimate around 70% of all online scams may target well-known platforms like Coinbase, mainly because these brands lend credibility to fraudulent messages. This could lead more people to feel apprehensive about using cryptocurrency exchanges altogether, as many may remain unaware of how to spot scams. Cybersecurity experts are urging exchanges to ramp up their communication efforts to educate users. It's likely we will see more refined phishing tactics, including cloned websites and fake support calls, putting even the most cautious individuals at risk if they aren’t vigilant.
Unexpected Echoes from the Past
Looking back at the rise of email scams in the early 2000s provides a striking parallel. At that time, people received increasingly convincing emails claiming to be from bank institutions, leading many to unknowingly share sensitive information. Just like now with the texting scams fueled by the cryptocurrency boom, individuals trusted the messages due to the reputability of the brands they represented. The lessons learned from that era hinge on the importance of skepticism and the need for authentication, much like what’s needed today in the crypto landscape. The past teaches us that trust can lead to oversight if caution isn't practiced, and that trend continues to resonate as people navigate the current digital fraud environment.