Aaron M. Cohn, partner with Weinberg Wheeler Hudgins Gunn & Dial. Courtesy Photo Crypto Scams Are Flourishing and Brokerages Claim They Are Not Responsible
These types of socially engineered hacks are happening at an alarming rate, and the crypto brokers are well aware of the problem because they are on the front lines of the complaints generated by their customers.
June 23, 2022 at 09:03 AM
5 minute read
Cryptocurrency
You receive a text from your crypto wallet custodian, such as Coinbase or Gemini, claiming a fraudulent transaction has occurred on your account. Some detail related to the transaction is provided. You do not recognize the transaction and respond indicating fraud and that you would like to speak to a representative, who promptly calls you. The representative has your personal information, asks you to confirm certain details, then instructs you to report the code just sent to your phone to confirm your identity. You do it—and you've been hacked.
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