Despite Meta being targeted over 25 times more frequently by scammers, Coinbase remains the most impersonated brand in the crypto industry.
Coinbase, a prominent cryptocurrency exchange, has been identified as the most frequently impersonated brand by scammers and malicious actors in the Web3 space, according to a recent survey.
Among all crypto firms based in the United States, Coinbase was the primary target in phishing attacks. Phishing attacks are online schemes aimed at deceiving investors into sending digital assets to the scammer’s crypto wallet.
Over the past four years, the Coinbase brand has been misused in 416 reported phishing incidents, as per a report from Mailsuite.
The report, analyzing over 1.14 million scams, highlighted that more than 249,000 of these cases involved impersonation of companies or organizations.
Coinbase is the world’s second-largest centralized cryptocurrency exchange (CEX) with a daily trading volume exceeding $1.8 billion, according to CoinMarketCap.
With a high trust score of 10/10, Coinbase attracts over 40.9 million monthly visits, according to data from CoinGecko.
Summary Review: The prevalence of phishing attacks targeting Coinbase underscores ongoing challenges in the crypto industry’s security landscape. Despite Meta being a more frequent target overall, Coinbase‘s status as a leading exchange makes it a prime target for malicious actors seeking to exploit users’ trust and familiarity with the brand. With hundreds of reported incidents over the past four years, vigilance remains crucial for investors and users to avoid falling victim to these deceptive schemes. As Coinbase continues to uphold its position as one of the largest exchanges globally, maintaining robust security measures and user education will be essential in mitigating such risks in the future.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
