Scammers posing as CoinMarketCap support staff are actively deceiving users into revealing private keys and seed phrases through fake emails and direct messages, claiming to offer assistance. CoinMarketCap, owned by Binance but operating independently, confirmed the fraud in a public alert on X, emphasizing that it never contacts users by phone or social media to request wallet details. The company urged users to report suspicious activity through its verified support portal and warned that scammers use authentic-looking communication channels and cloned websites to gain trust.
This incident is part of a broader surge in social engineering schemes across the crypto industry, responsible for an estimated $2.1 billion in losses in 2025, with over 80% involving compromised private keys due to such tactics. In one case investigated by North Wales Police, a victim lost nearly $2.8 million in Bitcoin after a scammer impersonating a police officer convinced them to "secure" funds via a phishing link. Another case in August involved over 700 Bitcoins stolen using a forged hardware wallet support email chain.
Blockchain investigator ZachXBT noted that massive data leaks from large companies have armed scammers with realistic information, such as email templates and personal details, to mimic legitimate support staff. TRM Labs' mid-year report confirmed that the average hack in 2025 reached $30 million, with social engineering as a primary method. Even major exchanges like Coinbase have been affected, losing tens of millions to similar impersonation attacks. Security experts advise users to treat unsolicited communication with caution and store private keys offline.
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