The reason for repeatedly receiving Coinbase withdrawal codes is very likely because of a widespread SMS phishing scam targeting cryptocurrency users. These scam messages typically:
- Send unsolicited withdrawal codes (one-time passwords or OTPs) pretending to be from Coinbase.
- Urge recipients to call a phone number to "verify" account activity.
- Use unknown numbers not associated with Coinbase.
- Create a false sense of urgency to trick recipients into sharing sensitive info or calling scammers.
You may be receiving these scam messages even if you don't have a Coinbase account. Legitimate companies like Coinbase never ask you to share OTP codes or call a number from a text message. It is advised not to respond or call any number in those messages, and instead verify account status only through the official Coinbase website or app. To protect yourself:
- Do not share any withdrawal or verification codes.
- Block and report the spam messages as junk.
- Enable two-factor authentication using an authenticator app instead of SMS.
- Report suspicious texts to Coinbase or appropriate authorities.
This scam has been reported repeatedly by many victims and authorities warn users to stay vigilant against phishing attempts like these.
