If you’re a Coinbase user, you are most likely the next target of a new phishing campaign. Cybercriminals have managed to infiltrate two-factor authentication and deploying other social engineering strategies with the crypto currency exchange platform.

Researchers at PXIM Software have found that the attacks are spoofing Coinbase to trick users into logging in. Once logged in, the threat actors record the login credentials and use the information to drain funds and defraud users of their crypto balances.

In a blog post the Research team stated the following, “They will typically distribute these funds through a network of ‘burner’ accounts in an automated fashion via hundreds or thousands of transactions, in an effort to obfuscate the original wallet from their destination wallet,”

It is very import for your users to spot any potential warning signs from a suspicious email. New-school security awareness training can educate your users on how to spot red flags and report any malicious activity in their day-to-day operations.