Bitcoin · U.S. · Coinbase · FBI · AI Agent · Bitcoin.com News
Fake Coinbase Texts Led to $900K Bitcoin Theft, US Seeks Seized Crypto
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Fraudulent texts posing as Coinbase allegedly led to the theft of 33.7 bitcoin from two wallets held within one account.
Key facts
- At the time, the wallets, combined, contained 33.7 BTC, valued then at approximately $900,000 (US)
- Investigators followed 11.2 of the stolen bitcoin to a Binance account through transactions made between June 5 and 15, 2023, according to the affidavit
- The beneficiary was exchanging emails with crypto exchange Coinbase (Nasdaq: COIN) about creating a separate account for the trust when the texts arrived June 1 and 2, 2023
- Binance transferred approximately 110,270 tether (USDT), a cryptocurrency designed to track the U.S. dollar, to a government-controlled wallet Aug. 3, 2026, in place of the frozen monero
Summary
The two wallets held bitcoin belonging to a beneficiary and a family trust. Investigators traced 11.2 of the stolen bitcoin to a Binance account. Prosecutors seek forfeiture of 110,270 USDT seized from that account. A beneficiary of a Massachusetts family trust shared account details after receiving texts that falsely appeared to come from Coinbase, federal prosecutors allege.