Coinbase is giving some customers bitcoin worth $100 after sending them security-alert emails by mistake (2024)

FAQs

Why did I get a random email from Coinbase? ›

Phishing is a fraudulent practice that can happen through different means of communication, including emails, SMS texts, social media posts, and fraudulent URLs. These attackers will brand themselves and pretend to be Coinbase in order to obtain sensitive information, such as passwords and 2FA codes.

The only way someone can steal your crypto is if you give it to them in a scam that could include your giving them access to your private keys, or their hacking your digital wallet and stealing your keys.

Suspicious account activity

If your account has been compromised or you suspect fraudulent activity on your account, lock it. Coinbase takes extensive security measures to ensure your account and cryptocurrency investment remains as safe as possible, but ultimately, security is a shared responsibility.

Coinbase staff will never ask you for your password, 2-step verification codes, or request remote access to your computer. If you are being asked to provide any of this, you can be sure the email did not come from Coinbase. Emails from Coinbase will always have the coinbase.com domain name at the end of them.

Once your transaction is verified and confirmed, the crypto will show up in the recipient's account. This can take anywhere from a few seconds to a few minutes. If you're a Coinbase customer, you can also send crypto to any email address in 100+ countries instantly and for free.

At Coinbase, we prioritize the security of your sensitive information. Here's how we protect your bank account information: Encryption: We store your account numbers and routing numbers using bank-level AES-256 encryption on our servers. This ensures that your information is securely stored.

Coinbase Account Protection does not cover reimbursem*nt for any losses that you sustain as the result of your knowingly and voluntarily participating in fraudulent activity.

If you believe you or someone you know may be a victim of a cryptocurrency scam, immediately submit a report to the FBI Internet Crime Complaint Center (IC3) at www.ic3.gov or contact your local FBI Field Office and provide as much transaction information as possible.

Are Coinbase giveaways real? ›

Learning rewards is a legitimate method for earning cryptocurrency and any giveaways that Coinbase offers will direct you to Coinbase.com. Coinbase will never ask you to send crypto to an address in order to receive crypto back. Never send cryptocurrency to giveaways under the guise of address verification.

You can view most cryptocurrency transactions on the network's respective blockchain, which records and verifies the legitimacy of transactions. However, when transferring from a Coinbase account to another Coinbase account, the transactions occur off the blockchain.

While Coinbase has implemented various security measures to protect users' funds, there is still a risk of theft when using any cryptocurrency exchange or wallet.

The Securities and Exchange Commission today charged Coinbase, Inc. with operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency. The SEC also charged Coinbase for failing to register the offer and sale of its crypto asset staking-as-a-service program.

At Coinbase, we're committed to security by using industry best practices and storing up to 97% of bitcoins in encrypted, geographically separated, offline storage. To further protect our customers, all of the bitcoins stored in online computers are insured.

SMS. If you receive a text message reporting that you've received cryptocurrency that you did not authorize, it is likely a phishing attempt. Coinbase does not send out texts to verify transactions.

Crypto phishing scams involve scammers using fraudulent emails or websites to trick people into giving away their private information, like cryptocurrency wallet key details. Scammers impersonate reputable companies, offer fake coins or tokens, and promise free money.

Coinbase uses identity verification to comply with Know Your Customer (KYC) laws and prevent fraudulent activity. KYC is a multi-step process that confirms the identity of customers. We collect necessary information mandated by law, such as verifying your identity and protecting you from potential fraudulent activity.