A retired artist named Ed Suman lost over $2 million in cryptocurrency after being scammed by someone pretending to be a Coinbase support representative. Suman, 67, had accumulated 17.5 Bitcoin (BTC) and 225 Ether (ETH), which made up most of his retirement savings. He stored these funds in a Trezor Model One hardware wallet for security. However, in March, he received a text message claiming to be from Coinbase, warning of unauthorized account access. After responding, he received a call from a man identifying himself as a Coinbase security staffer. The caller convinced Suman to enter his seed phrase into a fake Coinbase website, leading to the theft of his crypto holdings. This scam occurred shortly after a data breach at Coinbase, where attackers bribed customer support staff in India to access sensitive user information. Coinbase plans to reimburse affected users between $180 million and $400 million.
— new from Cointelegraph