Coinbase Says It Prevented Over 1,000 Customers From Sending $280,000 Worth of Bitcoin To Twitter Hackers

Crypto exchange Coinbase has said that it prevented little over 1,100 customers from sending bitcoin to Twitter hackers who hijacked high-profile accounts to advertise a bitcoin scam last week. From a report: If Coinbase didn’t take the step, these customers would have collectively sent 30.4 bitcoin (currently worth about $278,000) to hackers, the exchange’s chief information security officer, Philip Martin, told Forbes. Notably, this amount is more than twice the actual amount ($121,000) that hackers collected via victims. Despite Coinbase’s action, its 14 customers still fell prey to the scam and sent around $3,000 worth of bitcoin to hackers before the exchange blacklisted their addresses, said Martin. Gemini, Kraken, and Binance users also tried sending bitcoins to the addresses, but not as much as Coinbase’s customers, per the report. All these exchanges moved to block the addresses as soon as the scam came to light.