Coinbase Fraud Exposed by zachxbt Analysis - $2 Million Theft Revealed

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2026-03-23 11:27:09

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Renowned on-chain analyst zachxbt has uncovered a major cryptocurrency scam. In this case, a Canadian criminal used the Coinbase name fraudulently to siphon over $2 million. zachxbt’s in-depth investigation revealed the entire conspiracy.

Social Engineering Scam Steals $2 Million

The main tactic of this scam was social engineering. The fraudster impersonated the Coinbase brand to deceive victims. The stolen funds were used to buy rare social media usernames, premium services, and for gambling. The criminal, also known as Habi (Howard), operates from Canada.

zachxbt’s Investigation Strategy - Wallet Addresses and Social Media Checks

zachxbt tracked the criminal’s activities through wallet addresses and social media posts. He uncovered theft cases involving multiple Coinbase users. This analysis shows how blockchain data and digital footprints can help catch criminals. The suspect was also linked to filing false police reports.

Major Attack - 783 BTC and Other Cases

Another large victim fell prey to similar social engineering tactics. In August, a different victim lost about 783 BTC (roughly $91 million at the time). These incidents highlight how crypto users remain vulnerable to social engineering attacks. Analysts like zachxbt play a crucial role in stopping these criminals and delivering justice to victims.

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