Coinbase Customer Support Scams: Recovery Options for Victims
Coinbase users should be aware of scams designed to impersonate customer support lines as a means of hacking their accounts. If your cryptocurrency is stolen as the result of a hack, Coinbase may be liable for damages. Because Coinbase users sign an agreement to resolve disputes through arbitration, they cannot sue the company in court. To pursue the recovery of funds lost in a customer support-related hack, contact our law firm at 800-767-8040 for a free consultation.
Report: Scammers Gaming Coinbase Google Search Results
According to a recent report by the Washington Post, scam artists have gamed search engines into listing their own phone numbers in the results of searches for legitimate businesses. As a result, users may call “support” lines operated by scammers, thinking they are in fact speaking to the businesses they patronize. The Post even described “impostors” of customer service results for Coinbase, with Google listing a “bogus phone number” for the company.
A recent report by Fortune Magazine, meanwhile, describes the victim of scammers impersonating Coinbase. A Connecticut-based man in his 60s, the victim wanted to move funds in his account, so he searched Google for “Coinbase” and called one of the numbers that appeared. Unfortunately, the number was not legitimate. “It turned out the Indian-accented representative he had called did not work for Coinbase at all but for scammers,” the report describes. “Less than 20 minutes later, Fred—who asked his last name not be used to avoid attracting unwanted attention—had been robbed of more than $100,000 of Bitcoin, Ethereum and cash.”
Google told Fortune that it acts vigilantly to ban scammers from using its platform, suspending more than 12 million advertiser accounts in 2023. Of course, its efforts were not enough to prevent “Fred” or other victims like him. It noted that some scammers “have become more sophisticated” in using various tactics to evade fraud detection.
Tips to Avoid Coinbase Customer Support Scams
Coinbase’s website offers users a number of tips to avoid scams. Perhaps most importantly, it warns that legitimate customer support agents will not do the following:
- Ask users for either their account password or two-factor authentication codes;
- Ask users to install new software on their computer;
- Remotely access and operate a user’s computer;
- Access or transfer funds in a user’s account.
The company warns users that they should never provide anyone else with remote access to their computers, including Coinbase personnel. It also cautions against giving out login credentials or 2FA codes, or accepting outbound calls seeking confidential information. (While Coinbase staff will call users back if a call is disconnected and ask a security question, the website notes, they won’t seek personal information.) Finally, the company sternly warns users not to transfer any cryptocurrency funds to addresses provided by purported customer support staff. “Coinbase staff,” it concludes, “will never ask you to send cryptocurrency to external addresses.”
Coinbase Account Hacked? Contact MDF Law Today
If a scammer stole your cryptocurrency funds by impersonating Coinbase customer support, you may have grounds to file an arbitration claim to pursue damages. Contact MDF Law for a free consultation about your options. As Coinbase may use any communications against you in an arbitration proceeding, we encourage you not to call the company. Your window to file a claim may be limited, so don’t delay: call 800-767-8040 to chat with an attorney today.