According to onchain sleuth ZackXBT, $45 million has been stolen from Coinbase users through social engineering scams within the last week, highlighting a significant ongoing issue for the exchange. This brings the estimated annual losses from such scams targeting Coinbase users to approximately $330 million. ZackXBT notes that this problem is particularly prevalent among Coinbase users, as no other major exchange has reported similar incidents at this scale. Previous warnings from the FBI have also noted that scammers impersonate exchange support staff to trick users into revealing sensitive information or downloading malicious software. This includes strategies where scammers direct users to withdraw funds to external wallets under false pretenses. The increasing variety and sophistication of these scams have prompted Coinbase's Chief Security Officer to emphasize the need for a unified framework to combat such threats effectively.

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