- California resident loses $11 million after sharing Coinbase account to a scammer.
- US officials file a complaint in the United States District Court (California).
- They identified four wallets holding more than 9.8 million USDT to be involved in fraud.
Someone impersonating a Coinbase employee scammed more than 200 BTC from a California resident. In response, a group of officials filed a civil complaint in the US District Court for the Central District of California. The complaint claims that they found four wallets holding almost $10 million USDT that was involved in fraud and money laundering.
According to court documents, the victim was approached by a fraudster who claimed to be a Coinbase customer support agent after purchasing 200 BTC on the Coinbase Pro account. The scammer told the victim that the account was frozen and that a transaction limit increase was necessary to complete the process.
In the end, the victim granted the scammer access to the funds. Within the next few hours, an amount exceeding $11 million was lost. At the moment, the government is asking permission from the court to seize the assets.
David Silver, Founding Partner of law firm Silver Miller, thinks that the Department of Justice utilizing a forfeiture action in a civil case must be exciting to crypto holders who want to see mainstream adoption of crypto. He said,
Stolen digital assets are one of the biggest problems in the space, and recovering stolen cryptocurrency is a much-needed solution.
He added that he is expecting to see more actions similar to this from both law enforcement and civil litigants.