The phony email says crypto exchange users have until April 1 to transfer their crypto into self-custody wallets — but it’s a big scam.
Crypto users have reported an increase in scam emails impersonating exchanges like Coinbase and Gemini. These fraudulent emails attempt to trick users into setting up a new wallet using pre-generated recovery phrases controlled by scammers.
In several examples posted to X, the email claims to be from Coinbase, asking users to transition to self-custodial wallets and providing instructions on downloading the legitimate Coinbase Wallet, giving a deadline of April 1 to make the switch.
Source: Steve Kaczynski
