Study Reveals Coinbase as Top Target for Scammers Among US Crypto Brands

The cryptocurrency exchange Coinbase has been identified as one of the most impersonated American brands by scammers seeking to deceive their victims. This is according to a report by Mailsuite.

Analysts report that from January 2020 to March 2024, the Coinbase brand was used in 416 scam schemes and phishing attacks. 

According to CoinMarketCap, Coinbase ranks as the second-largest centralized crypto exchange globally, with a daily trading volume exceeding $1.8 billion.

In the CoinGecko rankings, the platform shares the highest “trust” score alongside Binance, Bybit, and OKX.

Overall, Mailsuite analysts examined 1.14 million incidents where scammers impersonated a well-known company or organization over 249,000 times.

Among traditional firms, Facebook/Meta emerged as the most popular American brand among scammers, mentioned in 10,457 recorded fraud cases. The US Internal Revenue Service appeared in 9,762 incidents, while Apple was involved in 9,110. Following them are Amazon (8,919), Steam (4,833), and Microsoft (4,518).

On the international stage, scammers prefer Japanese firms. The leaders are mobile operator au (18,964 cases) and railway company JR East (18,250).

Earlier, experts from SlowMist reported that the TON ecosystem was under a large-scale phishing attack. According to their information, malicious links and harmful bots are spreading in Telegram groups, particularly disguised as airdrop announcements. 

Previously, the Ethereum Foundation warned of a compromise of its account in the SendPulse email distribution service, resulting in phishing emails being sent to users.