TechFlow reports on December 9, according to TheBlock, that over the weekend, some Coinbase users reported their accounts were suddenly restricted by the platform. The official Coinbase Support X account responded to users in a series of posts, asking them to "please be patient and don't believe everything you see on Twitter." Reports of attacks targeting Coinbase users have increased in recent weeks. On Saturday night, multiple accounts were compromised and funds stolen, according to @pcaversaccio, a pseudonymous security researcher and member of the SEAL 911 team, who shared the information on X.
The official Coinbase Support account stated: "Following the U.S. election, the influx of new users and reactivation of existing accounts has led to a 2-3x surge in fraudulent attempts, though our anti-fraud systems have successfully prevented tens of millions of dollars in losses." Recently, researchers have advised Coinbase users about using virtual private networks (VPNs). On December 2, Coinbase product director Scott Shapiro posted that since attackers frequently use VPNs, their use—even legitimate—may be flagged as a risk signal. Using a VPN alone won't trigger an alert, but when combined with other factors such as logging in from an unknown device and sending large amounts of cryptocurrency, it may prompt a security review. In response to Shapiro's original post, @pcaversaccio said that VPNs serve as users' digital umbrellas, helping protect privacy. Coinbase Support emphasized that it will not ignore affected users and will accelerate handling user feedback.
