Cryptocurrency [loss] $46M+

Telegram post

2025-03-28 [vendor] bc1qvl theft [chain] bitcoin
Primary Source ↗
Financial Loss $46.0M (46,000,000 USD)
Blockchain(s) Bitcoin

Incident Details

A Coinbase customer reportedly lost 400 BTC (~$35 million) in a scam identified by blockchain sleuth zachxbt. While investigating the massive theft from the single customer, he also observed at least $11 million in thefts from various other Coinbase customers throughout March.zachxbt has previously accused Coinbase of not doing enough to protect customers from hundreds of millions of dollars in scams, and he noted that in these cases, Coinbase had not marked the thief wallets as malicious in various cryptocurrency compliance tools.

Total loss estimated at $46,000,000.

Technical Details

Initial Attack Vector
On-chain theft (attributed by zachxbt)
Vendor / Product
bc1qvl theft

Timeline

  1. 2025-03-28 Breach occurred
  2. 2025-03-28 Publicly disclosed