In a recent case, a scammer managed to steal $32,906 in USDC from a Coinbase user. The scam involved transferring the funds from one wallet to another. The fraudulent cryptocurrency addresses are: 0xd836589f6Ad11555Dd88513407Ab3048825CDAec and 0x4d7Eb4D0BF2Cddd2d5B0b98cA031296E6F8d4004. The second wallet even shows funding from a Coinbase 5 wallet, offering a potential lead for investigators.

When we began working on this case, the victim came to us with the hope of recovering their funds. The emotional toll was clear—they lost a substantial amount of money, and their trust in crypto investments had been shaken. Using our cryptocurrency tracing tools, we tracked the transactions and identified the wallets involved. Our findings provide a solid foundation for law enforcement or further legal action to uncover the scammer’s identity.

This case highlights how sophisticated scams can happen on trusted platforms like Coinbase. The scammers relied on deception and the decentralized nature of crypto to hide their tracks. It also shows the importance of reporting scams early and seeking professional help.

If you’re wondering whether this was a scam, the answer is clear: yes. The unauthorized transfer of $32,906 from the victim’s account, the involvement of anonymous wallets, and the inability to retrieve the funds independently all point to fraudulent activity. CNC Intelligence was instrumental in tracing the funds and preparing a comprehensive report to assist in potential legal actions.

If you or someone you know has experienced something similar, don’t stay silent. Scams like this one can happen to anyone. Acting quickly can make all the difference.