Crypto users report new scam emails spoofing Coinbase, Gemini

Crypto users have reported a rise in scam emails made to look like they’re from crypto exchanges Coinbase and Gemini that attempt to get users to set up a new wallet with pre-generated recovery phrases controlled by scammers.

In several examples posted to X, the email claims to be from Coinbase, asking users to transition to self-custodial wallets and providing instructions on downloading the legitimate Coinbase Wallet, giving a deadline of April 1 to make the switch.

However, it also provides pre-generated recovery phrases….