Online Threat Alerts (OTA) - Alerting you to scams and frauds.

Coinbase Text Scam - How to Protect Yourself
Coinbase Text Scam - How to Protect Yourself

The Coinbase text scam is a phishing tactic where criminals send fake SMS alerts—often claiming an unauthorized withdrawal, a locked account, or a new login—to panic you into calling a fake support number or clicking a malicious link. The goal is to steal your login credentials or two-factor authentication (2FA) codes.

Common Tactics to Look For

  • Fake Withdrawal Codes: You receive an unsolicited one-time password (OTP) or reference code with a message telling you to call a provided phone number if you didn't authorize it.
  • Urgent Threats: Messages using urgent language claiming "Your account is locked" or warning of unusual activity.
  • Impersonation: Scammers pretend to be Coinbase agents offering fake "account protection" or asking you to transfer funds to a "secure" wallet.
  • Fake Support Numbers: The text instructs you to call a number not listed on the official Coinbase Support site.

How to Protect Yourself

  • Never call numbers provided in texts: Only contact support via the official Coinbase website or the official mobile app.
  • Never share your codes: Legitimate organizations will never text or call you asking for your password, OTP, or 2FA codes.
  • Avoid clicking links: Do not tap on unexpected or suspicious links sent via SMS.
  • Secure your 2FA: Use a dedicated authenticator app instead of SMS for your 2FA, as SMS codes can be intercepted.
  • Report the fraud: Report suspicious messages by forwarding them to 7726 (SPAM) and take a screenshot to send to security@coinbase.com.
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