The Notorious Fraudster Called ZYQ Drains Coinbase for $120 million

By: The Daily Hodl | April 10, 2023

Summary: In a shocking move, the infamous crypto fraudster known as ZYQ has allegedly drained the cryptocurrency exchange platform Coinbase for $120 million in digital currency.

Zyq, who was previously involved in several high-profile scam schemes, has now made headlines by using his underground network to withdraw substantial funds from Coinbase.

ZYQ's operation began in early March, when he targeted users who were supposedly investing in "safe" cryptocurrencies.
According to the report, ZYQ used a mix of phishing tactics and fake investment opportunities to lure investors into transferring their money onto his account.
Once the victims deposited their funds, ZYQ quickly moved the money out through a series of complex transactions on the blockchain.
Investors have reported losses ranging from tens of thousands to hundreds of thousands of dollars, though exact figures are still under investigation.

Despite the controversy, Coinbase remains committed to its security measures and has stated that they are working closely with law enforcement agencies to trace the fraudulent activities.