CNBC VP Reveals How Hackers Nearly Stole His Coinbase Account—A Crypto Security Wake-Up Call
Another day, another crypto hack—only this time, the target was inside the financial media itself.
CNBC’s vice president of news recently detailed a chilling attempt to hijack his Coinbase account. The attack wasn’t some crude phishing email; it was a sophisticated, multi-layered assault designed to bypass standard security protocols. Think of it as a digital heist movie, but with your life savings as the prize.
The Playbook of a Modern Crypto Thief
Hackers didn’t just guess a password. They executed a coordinated sequence: SIM-swapping to intercept two-factor authentication codes, social engineering to manipulate customer support, and a relentless push to gain control before the victim even knew what was happening. It’s a stark reminder that in crypto, you’re not just investing in assets—you’re also volunteering to be your own bank’s security guard, alarm system, and SWAT team.
Why Exchange Security Is Still a Bet
This incident cuts to the core of a central tension in digital finance. We’re told to trust centralized platforms with our keys for convenience, yet their customer service protocols can become the very backdoor exploiters need. It’s the ultimate irony: the systems built to help you can also be weaponized against you. Somewhere, a traditional banker is smugly sipping a coffee, muttering about ‘immutable ledgers’ being no match for a persuasive phone call.
The takeaway is brutal and simple. If it can happen to a finance news exec, it can happen to anyone. Your crypto security isn’t a set-it-and-forget-it feature; it’s a constant, active defense. Because in this new world, the most volatile asset isn’t the token—it’s your own sense of safety.
Scammer escalates pressure with personal data and fake activity
Brian told Jason that the person claimed they lost their phone on a conveyor belt at the Frankfurt airport and needed access. He paused, then said another transfer attempt was happening in real time. He added that the attacker had Jason’s Social Security number, phone number, and email address.
Brian also claimed the attacker submitted a photo that matched Jason’s Coinbase face scan. Jason responded, “I never gave Coinbase my photo.”
Brian pushed back. He said Jason WOULD have had to submit a photo to open the account due to know-your-customer rules. He then claimed the account was on hold and another transfer was blocked. Jason asked for proof that the call was real. Brian said an email with a case number had already been sent.
“The messages had the same confirmation codes as the ones he gave me on the phone. There were no typos, there was a Coinbase logo and a text box with all the key information. The email address appeared to have come from Coinbase, but I thought it was odd it didn’t have Miller’s name on it,” said Jason.
One message came from “[email protected] via sportuel.com.” The other came from “[email protected] via live-coinbase.com.” The addresses were different. Brian’s name was not on either message.
Brian then asked when Jason last used Coinbase, and Jason replied, “Shouldn’t you know that?”
According to Jason, Brian then said confidentiality rules prevented him from seeing balances. Jason gave a wide range and felt uneasy.
Fake support pushes hard wallet and blocks password changes
Brian told Jason he needed a “Coinbase Hard Wallet.” Jason said he did not know what that was. Brian offered to help him set it up. Jason asked if he should change his Gmail password. Brian said that was probably a good idea. Jason then asked if he should change his Coinbase password.
Brian hesitated. He said it was not recommended. He claimed changing the password would freeze the account for up to two weeks.
Jason said he had a meeting in five minutes and asked how long the wallet setup would take. Brian said 20 minutes. Jason said he had to go but suggested talking again at 3 p.m. Brian agreed to call back.
Jason said:-
“When I hung up, I tried to figure out what to do next. It didn’t seem right but several details lined up. I checked my account. Nothing seemed out of order. Then I took the email addresses he had sent. I copied them and asked Claude, Anthropic’s AI chatbot, if they were legitimate. The response came back, ‘This is almost certainly a PHISHING scam.'”
Jason contacted a former Coinbase public relations employee. She told him she no longer worked there but said it was likely a scam. She added that Coinbase does not call customers. She forwarded the details to the current team. Within minutes, Jason received a real call and text from Coinbase confirming the attempt was fraudulent.
Coinbase and recovery firms warn about AI-driven scams
Jason told the Coinbase representative he would write up the entire 15-minute call so the company could warn others. He then decided it could also run as a news article.
Coinbase agreed. A spokesperson said the company monitors accounts for unusual behavior, including large transfers or sudden sales from accounts that rarely MOVE funds.
The spokesperson said, “We invest heavily in prevention, detection, and rapid response.” They also said Coinbase would never instruct customers to move crypto into a SAFE wallet. “If someone tells you to move funds to protect them, it’s a scam,” the spokesperson said.
The company also acknowledged that artificial intelligence is making scams harder to detect. It said attackers use bots and AI voice tools to create believable calls.
ZeroShadow, a firm that helps recover stolen crypto, reported a 1,400% increase in impersonation scams over the past year. Casey G., the company’s CEO, said attackers operate both inside and outside the United States. He said they often recruit young men or teenagers and train them using scripts and voice modulation devices.
ZeroShadow said it has recovered about $200 million for victims over the past four years. Casey said tracing stolen crypto is possible, but recovery often requires help from local authorities and remains difficult.
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