Fake Coinbase notification: Massive Bitcoin loss! User loses whopping $11 mn

Fake Coinbase notification: A Coinbase user lost 200 Bitcoin to cryptocurrency fraud earlier this year, the US Attorneys Office has revealed, according to a new report. In what turned out to be a very expensive lesson for the owner, 206 Bitcoin were stolen from the victim’s account, accounting for a loss of a whopping 11.6 million dollars.

According to a report by Business Insider, the Coinbase user had spent money on purchasing 200 Bitcoin in April. However, after the transaction was completed, the user allegedly saw a notification popup that stated that their account was locked. While it appeared to be a genuine notification, it was not from Coinbase, and was designed to commit cryptocurrency fraud, according to the report.