SEC Resolution: Your Keys, Your Control | Users Report Suspicious Emails from Coinbase
Edited By
David Müller
A surge of complaints has emerged from people receiving emails claiming that Coinbase is transitioning all custodial assets to self-custodial wallets. Some accuse these emails of being scams, raising security concerns regarding sensitive information like recovery phrases.
Growing Concerns Over Email Authenticity
Many received messages from a no-reply address related to Coinbase. The emails included a 12-word recovery phrase, which some users found alarming.
"I think the wallet is already created, and they want you to connect to it" one concerned person warned, hinting at potential scams involving double signatures, similar to schemes seen on social media. This concern is echoed by a multitude, who suspect these emails aren't legitimate.
Official Response to User Warnings
Coinbase has swiftly addressed these concerns. In a public statement, they noted,
"We would never include your recovery phrase in any communication Your seed phrase is private and should never be shared with anyone."
They updated people to report suspicious emails to their security team, emphasizing the importance of protecting personal information.
User Reactions: A Mixed Bag
Despite assurances, the sentiment among those affected appears overwhelmingly negative.
Scam Alerts: "I got the same email. 100% is a scam but it’s so strange."
Reporting Actions: Users are encouraged to report these scam attempts.
Suspicion of Phishing: "Definitely a scam. REPORT!"
Interestingly, the email links ultimately directed users to the legitimate Coinbase website, creating confusion about the authenticity of the phishing attack.
Key Takeaways
🔴 Many report receiving suspicious emails asking for recovery phrases.
🟢 Coinbase warns that they do not request such information.
⚠️ Quick action is recommended to report these scams to Coinbase's security.
This situation highlights the need for vigilance among crypto holders. Are phishing scams evolving to use more convincing tactics?