Coinbase's CEO Threatens Scammers Targeting Its Customers After Collaboration With Brooklyn DA
Analysis
Price Impact
LowCoinbase's active stance against scammers, including collaboration with law enforcement, enhances user trust and security across the crypto ecosystem, reducing perceived risks for investors in major assets like bitcoin.
Trustworthiness
HighThe information comes directly from coinbase's ceo, brian armstrong, detailing a confirmed collaboration with the brooklyn da's office and tangible results (apprehension of a scammer).
Price Direction
BullishWhile not causing immediate price surges, increased security and confidence in major exchanges like coinbase are fundamentally bullish for long-term crypto adoption and demand, as it mitigates systemic risks and attracts more users.
Time Effect
LongBuilding user trust and effectively combating fraud is a continuous process that fosters sustainable growth and market maturity over an extended period, rather than driving short-term price volatility.
Original Article:
Article Content:
Cover image via U.Today Read U.TODAY on Google News Brian Armstrong, the CEO of leading U.S. cryptocurrency exchange Coinbase, on Saturday issued a strong warning to crypto scammers following the growing cases of frauds targeting its customers. Advertisement The warning has come after the firm joined hands with the Brooklyn District Attorney’s Office, assisting the law enforcement agency in dissolving a longstanding impersonation scheme. The exchange has remained firm on its belief that illicit activity on the blockchain is far from anonymous, hence it has shown commitment toward bringing down crypto fraudsters. HOT Stories SBI Starts XRP Lending, Shiba Inu Whale Awakens With 53 Billion SHIB Transfer, New Ethereum Hack Revealed — Crypto News Digest Crypto Market Prediction: Will Shiba Inu (SHIB) Crash Ever End? Ethereum (ETH) Already Sniffing $3,000; Bitcoin (BTC) Price Expodes in Unexpected Volume Spike 'True Currency': Did Elon Musk Just Describe Bitcoin? Morning Crypto Report: Ripple CEO Forces XRP Reality Check for Coinbase, Shiba Inu (SHIB) Soars 5%: Fakeout Next? $444 Million in Bitcoin Land on Binance As such, Armstrong has made it clear that anyone attempting to steal from its customers will be pursued relentlessly and brought to justice, revealing that one of the perpetrators of the ongoing Brooklyn DA case has been brought down. Armstrong noted that investigation is still ongoing to bring down the last scammer. Advertisement Coinbase joins in major fraud crackdown Notably, the warning has come after Coinbase collaborated with the Brooklyn District Attorney’s Office to help investigate a prolonged impersonation scam that targeted unsuspecting victims. The scammers positioned themselves as trusted entities to deceive users into entrusting their crypto assets with them disguising as reputable crypto operators. You Might Also Like Fri, 12/19/2025 - 14:40 Coinbase CEO Stuns Crypto X, Issues Unexpected Take on Solana By Tomiwabold Olajide Advertisement In his warnings, Armstrong reminded that crypto scams are not as anonymous as many perpetrators believe, emphasizing that it would utilize blockchain networks, transaction histories and cooperation with legal authorities to actively support investigations that focus on recovering stolen funds and holding offenders accountable. After the successful investigation on one of the perpetrators, Coinbase acknowledged popular on-chain investigator ZachXBT for his contribution to the case. Although this is not the first time Coinbase has established its commitment to protecting users, supporting victims and ensuring that bad actors face real-world consequences, its major contribution to the Brooklyn DA case has brought further relief to its customers. #Coinbase #Brian Armstrong #Cryptocurrency Scam