Coinbase withdrawal code text scam targets crypto users with fake alerts
New York, NY — A wave of phishing texts spoofing Coinbase “withdrawal code” alerts is hitting phones across the U.S., tricking recipients into calling fake help lines or handing over one-time passcodes that let scammers drain crypto accounts.
The scam arrives by text from unknown numbers and often claims there’s a withdrawal or strange activity on a Coinbase account, followed by an unsolicited one-time password (OTP) or a prompt to “verify” by calling a number. Messages frequently include spelling mistakes or urgent language to rush a response. Victims who call back are steered into sharing login credentials or OTPs that give criminals immediate access to funds.
Officials urge users not to provide account information, not to share screenshots or activity details, and to change passwords if they responded to a suspicious text or called a number provided in a message. Targets are advised to block and report the sender as junk/spam and forward a screenshot to security@coinbase.com.
Anyone who believes they are being victimized should call 911 or contact their local police department. Scams can also be reported to Coinbase at security@coinbase.com and to the FBI’s Internet Crime Complaint Center at https://www.ic3.gov.
The New York Lottery-style PSA notes that Coinbase is a popular U.S. cryptocurrency exchange, making it a high-profile target for fraud rings that exploit text alerts and OTP fatigue. Users are reminded that legitimate security codes are only for actions they initiate and should never be shared.
——
Key Points
- Scam texts spoof Coinbase withdrawal or OTP alerts and push victims to call fake numbers or share codes
- Red flags include unknown senders, unsolicited codes, verification requests, spelling errors, and urgent language
- Report incidents to police, Coinbase security@coinbase.com, and IC3 at ic3.gov
