A new SMS scam targeting cryptocurrency users has been identified, falsely claiming to be from Coinbase, a leading cryptocurrency exchange. This scam involves unsolicited text messages that provide a supposed one-time password (OTP) for a withdrawal and urge recipients to call a provided phone number if the transaction was not authorized.
The fraudulent message often includes a reference number and an OTP code, creating a sense of urgency to trick users into sharing sensitive information or contacting scammers directly.
For example, a recent message read:
“(COINBASE) The OTP code for your withdrawal is 736191. If this was not you please call us on +1 (877) 338-9228. Ref CB97405.”
Key Indicators of the Scam:
- Messages from unknown numbers not associated with Coinbase.
- Unsolicited OTP codes or withdrawal notifications.
- Requests to call a phone number to “verify” account activity.
- Suspicious formatting or overly urgent language.
Protect Yourself:
- Do Not Respond or Call: Avoid engaging with the message or calling any provided numbers.
- Never Share OTP Codes: Legitimate companies will never ask you to share an OTP over the phone or via text.
- Verify Directly: Check your account status by visiting the official Coinbase website (www.coinbase.com) or app directly—do not use links or numbers from the message.
- Report Suspicious Messages: Use your phone’s “Report Junk” feature to flag scam messages.
- Enable Two-Factor Authentication (2FA): Use an authenticator app for 2FA instead of SMS to secure your accounts.
We urge all cryptocurrency users to remain vigilant and protect their accounts from phishing attempts. If you receive a suspicious message claiming to be from Coinbase, report it to the Washoe County Sheriff’s Office Fraud Awareness Hub and verify your account through official channels only.
For more information or to report a scam, contact Coinbase support directly through their official website or app.
