A federal judge this month approved a warrant to claw back more than $600,000 in bitcoin from a crypto wallet after federal investigators said it was part of an $11.6 million haul stolen from a coin base account.

In April after a coin base user bought 200 bitcoin, an notification popped up on his screen, alerting the user that their account had been locked, according to a complaint filed by the US attorneys office in LOS Angeles.

Although the notification appeared to be from coinbase, it wasn’t. Instead the fake notification was the first step in an alleged fraud.

In the moments that followed almost $11.6 million in crypto, about 206 bitcoin was removed from the users account, investigators said.

The coin base user who was identified in court documents only as GR Called a phone no on the notification thinking it would connect to a coin base customer service rep, according to a federal complaint filed by investigator’s last month.

An unidentified individual answered the call and asked GR To make a series of changes to the account, according to the complaint.

Once granted access to the victim account, the scammers increased the daily transaction limit and also attempted to deactivate certain notifications and alert settings on the victim account, within moments millions in bitcoin and XLM were removed from the users account.

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By Business Insider


You can make it big in crypto or you can lose your belongings

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