ZachXBT Exposes $2M Scammer Using Fake Coinbase Support
Generally, You should be aware of scammers who are targeting cryptocurrency exchange users. Obviously, Blockchain investigator ZachXBT has uncovered a scammer who allegedly stole over $2 million in cryptocurrency by impersonating Coinbase customer support. Normally, This case highlights the increasing threat of social-engineering scams targeting cryptocurrency exchange users, which is pretty bad.
Clearly, The scammer employed classic social-engineering tactics, convincing victims that their accounts were at risk and required immediate action, which is something You should watch out for. Apparently, By cross-referencing screenshots shared in Telegram group chats, social-media posts, and on-chain transaction data, ZachXBT traced the fraudulent activity, and that’s how they got caught.
Naturally, The scammer routinely converted stolen XRP into Bitcoin via instant-exchange services to obscure the trail, but that didn’t work out too well. Pretty much, ZachXBT identified a Bitcoin address holding about $237,000 in February 2025, matching screenshots the fraudster had shared in private chats, and that was a big break.
Usually, The fraudster reportedly spent the stolen funds on expensive Telegram usernames and deleted older accounts to evade detection, but that didn’t help in the end. Obviously, Repeated online bragging ultimately made identification easier, which is something scammers should keep in mind.
Overview
Basically, You need to be careful when using cryptocurrency exchanges, because scammers are always trying to steal Your money. Generally, Blockchain investigator ZachXBT has uncovered a Canada-based scammer who allegedly stole over $2 million in cryptocurrency by impersonating Coinbase customer support, and that’s a pretty big deal.
Clearly, This case highlights the increasing threat of social-engineering scams targeting cryptocurrency exchange users, and You should be aware of that. Normally, The scammer employed classic social-engineering tactics, convincing victims that their accounts were at risk and required immediate action, which is something You should watch out for.
Scammer Identity and Modus Operandi
Apparently, The scammer posed as a Coinbase help-desk employee, deceiving users into surrendering their funds, which is pretty bad. Generally, ZachXBT identified the fraudster, known by the aliases “Haby” or “Havard”, and that’s how they got caught.
Usually, The scammer employed classic social-engineering tactics, convincing victims that their accounts were at risk and required immediate action, and that’s something You should be careful about. Obviously, By cross-referencing screenshots shared in Telegram group chats, social-media posts, and on-chain transaction data, ZachXBT traced the fraudulent activity.
Notable Theft Examples
Pretty much, One screenshot posted on December 30, 2024 boasted of stealing 21,000 XRP (≈ $44,000) from a Coinbase user, and that’s a pretty big theft. Normally, Further analysis linked this address to additional thefts totaling around $500,000 from Coinbase accounts, which is a lot of money.
Clearly, The scammer routinely converted stolen XRP into Bitcoin via instant-exchange services to obscure the trail, but that didn’t work out too well. Generally, ZachXBT identified a Bitcoin address holding about $237,000 in February 2025, matching screenshots the fraudster had shared in private chats.
Evidence of Direct Impersonation
Apparently, ZachXBT also released a leaked screen recording allegedly showing the scammer on a call with a victim, posing as Coinbase support, and that’s pretty bad. Obviously, During the call the impostor guided the target through fake security steps while inadvertently revealing an email address and a Telegram account tied to the operation.
Usually, The fraudster reportedly spent the stolen funds on expensive Telegram usernames and deleted older accounts to evade detection, but that didn’t help in the end. Generally, Repeated online bragging ultimately made identification easier, which is something scammers should keep in mind.
Related Enforcement Actions
Normally, This exposure follows recent enforcement actions in India, where a former Coinbase customer-support agent was arrested in Hyderabad over a data breach affecting nearly 70,000 users, and that’s a pretty big deal. Clearly, Coinbase CEO Brian Armstrong noted the breach stemmed from a bribery scheme targeting offshore support staff, resulting in roughly $307 million in remediation costs.
Pretty much, In the United States, prosecutors charged a 23-year-old Brooklyn resident with stealing about $16 million from roughly 100 Coinbase users through a similar impersonation scheme, and that’s a lot of money. Generally, You should be careful when using cryptocurrency exchanges, because scammers are always trying to steal Your money.
Preventing Social-Engineering Scams
Obviously, Social-engineering scams typically begin with unsolicited calls, texts, or emails that appear to come from a legitimate company, and You should be aware of that. Normally, Scammers create urgency by claiming suspicious activity or imminent account compromise, pressuring victims to reveal login credentials or transfer funds to attacker-controlled wallets.
Generally, You should never respond to unsolicited messages requesting personal information, and that’s a good rule to follow. Clearly, You should never share passwords or recovery phrases, and that’s just common sense.
Usually, You should contact support only through official websites or mobile apps, and that’s the safest way to do it. Apparently, You should always be careful when using cryptocurrency exchanges, because scammers are always trying to steal Your money.
Industry Impact
Pretty much, Cryptocurrency theft remains widespread, with over $3.4 billion stolen across the sector between January and early December 2025, and that’s a lot of money. Normally, Security experts continue to urge vigilance and best-practice security hygiene to curb such losses, and that’s good advice.
Generally, You should always be careful when using cryptocurrency exchanges, because scammers are always trying to steal Your money, and that’s just the way it is. Obviously, You should follow the tips and advice of security experts to stay safe, and that’s the best way to do it.
