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US Government Goes After Fake Coinbase Scammer for Stealing $11M USDT - Financial Markets Worldwide

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8c3937d6a805c13b705e3d5d49b26e19Cryptocurrency1 hour ago (Sep 25, 2021 03:30AM ET)

US Government Goes After Fake Coinbase Scammer for Stealing $11M USDT

  • California resident loses $11 million after sharing Coinbase (NASDAQ:) 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,…

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