It's way too easy to scam people online these days. Chirag Tomar and his crew ran a scam, posing as Coinbase, and made over $20 million.
Twenty million!
That's not just a few people making bad decisions, that's systematic exploitation. The kind that makes you wonder how many of us understand the systems we're entrusting with our money.
I don't care about the money, but the issue of how it was stolen.
Spoofing, fake URLs, and fake reps of customer service. Built a world that looks close enough to real to get any person to trust it. And they went big: Lamborghinis, watches, luxury vacations-the spoils of other people's hard-earned cash.
I've known people who threw their whole lives into crypto because they felt it was the fast track to being wealthy. But Tomar's case is a sharp reminder of how dangerous these digital spaces can get. You can lose it all in seconds. And it's not just amateurs getting duped. Big companies like JP Morgan have been caught in similar games, so the question isn't "Are you smart enough to avoid these scams?
It's, "What systems are in place to stop this from happening? Perhaps that is the more frightening part: that this security seems so fragile at the present moment.