[Alert] Protect Your Crypto: Coinbase Text Scam on the Rise

Alert: A surge in fraudulent text messages impersonating Coinbase is targeting crypto users, attempting to steal personal information and access accounts.

An actual text message looked like this:

Impact: Falling victim to this scam can result in significant financial loss, with average losses exceeding $1,000 per individual.

Action:

1. Be Vigilant: Treat any text messages claiming to be from Coinbase with suspicion. Verify their authenticity independently before responding or clicking on any links.
2. Double-Check the Sender: Ensure the sender's phone number matches Coinbase's official contact information. Scammers often use numbers that closely resemble legitimate ones.
3. Enable Two-Factor Authentication (2FA): Activate 2FA on your Coinbase account using an authenticator app, which is more secure than SMS-based 2FA.
4. Stay Informed: Regularly check Coinbase's official channels and website for updates and security advisories. Awareness is crucial to staying ahead of these scams.