A fraud team defrauded $1.7 million in assets by posing as Coinbase

On July 8th, at least three Coinbase users and one cryptocurrency user became targets of scammers impersonating Coinbase, with one victim being scammed out of $1.7 million. The scammers directed the victims to a website where they were asked to enter their mnemonic phrase to stop a transaction. The victims knew this was "unsafe," but still entered a "partial" phrase without submitting it. A few hours later, the victim's wallet was robbed of $1.7 million in cryptocurrency.