Crypto phishing moves quickly because stolen credentials can lead to irreversible withdrawals. Treat any exchange alert with urgency, but verify it outside the message before clicking anything.
Does this affect you?
Use this for Coinbase or Binance account holders who receive an email, text, or fake-looking push alert about suspicious login, locked account, withdrawal, or identity verification.
Check whether the message is real
Do this before clicking links, buttons, or unsubscribe text.
- Look at the actual sender address, not just the display name. Real Coinbase email should come from coinbase.com, and real Binance email should come from binance.com.
- Hover over links on a computer before clicking. If the destination is not the real exchange domain, do not open it.
- Be skeptical of countdowns, 24-hour suspension threats, or verify now language. Phishing relies on rushed decisions.
- Never provide your password, 2FA code, wallet recovery phrase, or seed phrase by email, text, phone, or chat.
- If unsure, type coinbase.com or binance.com directly into your browser or open the official app and check notifications there.
If you clicked or entered information
Move fast and use only official exchange channels.
- If you entered the exchange password, sign in to the real site or app and change the password immediately.
- Revoke active sessions and devices you do not recognize.
- Reset or re-enable two-factor authentication, preferably with an authenticator app or hardware key rather than SMS.
- If you entered a wallet seed phrase, treat that wallet as permanently compromised and move remaining funds to a brand-new wallet with a new seed phrase.
- Check withdrawal and transaction history for anything unauthorized.
- Contact Coinbase or Binance support through the official website or app and ask about freezing withdrawals or securing the account.
- Change the same password anywhere else it was reused.
More control
Use withdrawal allowlists
Both exchanges offer ways to restrict withdrawals to approved addresses. Even if someone gets in, they cannot send funds to a new address without clearing that control.
Avoid SMS when possible
SMS codes can be intercepted through SIM swaps. Authenticator apps and hardware security keys remove that phone-number weakness.
Use hardware wallets for long-term holdings
For crypto you are not actively trading, a hardware wallet keeps private keys offline and away from exchange-login phishing.
Sources
- Coinbase Help – How to identify Coinbase phishing scams (2025)
- Binance – How to identify and prevent phishing scams (2025)
- FTC Consumer Advice – How to recognize and avoid phishing scams (2025)