Unprecedented Surge in Scam Activities on Coinbase’s Base Chain in April

April witnessed a significant escalation in scam activities on Coinbase's Base chain, highlighting its vulnerability within the cryptocurrency ecosystem. Data from Scam Sniffer reveals that two of the top ten largest single thefts during this period occurred on this network, collectively constituting over 20% of April's total cryptocurrency thefts.



While the broader crypto market experienced a decline in hacking incidents in April, certain networks, like Coinbase’s Base, saw increased scammer activity. Built on the Ethereum blockchain, the Base network suffered a 145% increase in such activities over the month. Since January, the network has seen an alarming 1,900% rise in scammer activities, leading to significant financial losses. Scammers primarily stole about $170,000 through phishing attacks, with nearly 90% of the pilfered a


First found on: Cryptonews from Coinatory