Crypto sleuth ZachXBT recently made a discovery regarding Coinbase user losing over 400 Bitcoins worth $33.5 million in present-day cryptocurrency value through social media engineering attacks.
ZachXBT observed on his Telegram channel that superior cyber threats against major cryptocurrency exchanges have seen a surge in Q1 of 2025, especially after March 16.
As per Zach, the wallet address bc1qvl serves as the main mechanism to carry out the illicit transfers that have been linked to the thefts according to official investigation findings. The theft of Bitcoin resulted in a transfer from the Bitcoin blockchain to the Ethereum blockchain through the combination of THORChain and Chainflip bridge tools, which worsened the situation.
ZachXBT identified a Coinbase user who lost 400 bitcoin worth over $33.5 million at the current prices after multiple social engineering attacks targeted the U.S.-based cryptocurrency exchange…
