Coinbase CISO Talks Scam Prevention Amid $300 Million in Annual Losses

Social engineering scams are on the rise, and these exploits have particularly targeted Coinbase users throughout the first quarter of 2025. According to a series of investigations by ZachXBT, users have lost over $100 million in funds since December 2024, while annual losses reached $300 million. After sorting through the complaints made by different users, BeInCrypto spoke with Coinbase Chief Information Security Officer (CISO) Jeff Lunglhofer to understand what makes users vulnerable to these kinds of attacks, how they happen, and what’s being done to stop them. Gauging the Seriousness of Scams Affecting Coinbase Users Throughout the first quarter of 2025, several Coinbase users fell victim to social engineering scams source: https://beincrypto.com/coinbases-security-chief-talks-scam-prevention/