Coinbase Withdrawal Code Text Scam: How to Recognize and Respond

Lately, both crypto users and people who’ve never touched digital coins are getting unsettling texts that claim to be from Coinbase about withdrawal codes. These messages look convincing and try to scare you by saying someone’s trying to break into your account. The Coinbase withdrawal code text scam tricks folks into calling phony support numbers, where scammers swipe your info and, sometimes, your cash.

This scam has exploded since spring of 2025, and police across the country have started warning the public. Scammers blast out texts with withdrawal codes and phone numbers, hoping you’ll freak out and call them. They don’t care if you’ve never used Coinbase—casting a wide net works for them.

Knowing how the scam operates and how to react can save you a ton of trouble. These fake messages all follow a pretty similar script, and real companies like Coinbase don’t communicate this way. If you know what to look for, you’re far less likely to get caught up in it.

Understanding the Coinbase Withdrawal Code Text Scam

This scam targets both Coinbase users and people who’ve never signed up, using sneaky SMS messages with fake withdrawal codes. Scammers use urgent wording and phone numbers to trick you into giving up personal details.

How the Scam Works

It starts when you get a surprise text that claims to be from Coinbase. Usually, there’s a bogus withdrawal code or one-time password in the message.

The text tries to rattle you by saying someone’s accessed your account. You might see something like: "Your Coinbase withdrawal code is: 611835. Please do not share this code with anyone."

Here’s what you’ll usually see:

• Texts from random numbers you don’t recognize

  
  

• Fake OTP codes or withdrawal alerts

  
  

• Phone numbers urging you to call for “help”

  
  

• Language and formatting that look official

If you call the number, a fake rep picks up. They’ll ask for your passwords, bank info, or two-factor codes—whatever they can get.

Even if you’ve never had a Coinbase account, you might get these texts. Some people call back just to clarify, thinking someone stole their info to open an account.

Common Tactics Used by Scammers

Scammers have a few tricks to make their messages seem legit. They send out thousands, hoping a handful of people panic and respond.

Some of their go-to moves:

• Using foreign phone numbers, often from the Philippines

  
  

• Making it sound urgent—like your account’s in danger

  
  

• Giving out fake customer service numbers

  
  

• Adding reference codes that seem official

They’ll often warn you not to share the code with anyone, which oddly makes the message seem more trustworthy.

Crypto users are a prime target because, honestly, once digital money is gone, getting it back is nearly impossible. Scammers know people will panic if they think their crypto is at risk.

Sometimes, victims get bombarded with several messages a day. It’s overwhelming and can make even cautious people slip up.

Key Warning Signs of a Phishing Attempt

A few red flags make this scam easier to spot. Real Coinbase texts never include withdrawal codes.

Watch out for these:

• Unknown or foreign numbers

  
  

• Unsolicited OTP codes or withdrawal alerts

  
  

• Demands to call a number right away

  
  

• Weird spelling or pushy language

  
  

• Claims that someone accessed your account

Coinbase doesn’t ask for private info over text. They don’t send withdrawal codes or tell you to call numbers from a text message.

If a text says to call for account security, just delete it. Real companies will send you to their official website or app, not some random phone number.

Protecting Yourself and Responding to the Scam

If you get a sketchy text, acting fast and locking down your accounts can save you from identity theft or losing money. Reporting scams also helps keep your community safer.

Steps to Take if You Receive a Scam Text

Don’t reply or call the numbers in suspicious Coinbase texts. Scammers use these calls to grab your info and commit identity theft.

First, just delete the message. That way, you won’t accidentally interact with it later.

Definitely don’t:

• Call the number in the text

  
  

• Reply to the message

  
  

• Click any links

  
  

• Share the withdrawal code

If you already called, change your passwords right away—especially for banking, email, and crypto accounts.

If you shared any financial info, reach out to your bank or credit card company. They’ll keep an eye out for weird activity and can issue new cards if needed.

If it’s a serious case and you think your identity’s been stolen, contact your local police and the FTC. They can help you start cleaning up the mess.

Strengthening Account Security and Authentication

If you use Coinbase, turn on two-factor authentication (2FA). This adds a second step beyond just your password.

Authenticator apps like Google Authenticator or Authy are your safest bet. These apps generate a new code every 30 seconds, which is way more secure than SMS.

Try to avoid SMS-based 2FA if you can. SIM swapping is a real risk, and scammers love to exploit it.

Create strong, unique passwords for Coinbase and other accounts. Password managers make this way easier and safer.

Quick security checklist:

• Enable 2FA using an authenticator app

  
  

• Pick a unique password

  
  

• Keep your contact info up to date

  
  

• Check your account activity regularly

By checking your accounts every week, you’ll spot suspicious activity sooner. It’s a simple habit that pays off.

Reporting Suspicious Messages and Getting Help

Coinbase urges users to report phishing attempts. You can send screenshots of scam texts to [email protected] to help them track these schemes.

Local law enforcement, like the Washoe County Sheriff's Office, has started issuing warnings. Reporting scams helps them warn others, too.

You can also report scam texts to your mobile carrier. Just forward the message to 7726 (SPAM) to help block similar ones in the future.

Where to report:

• FTC: ReportFraud.ftc.gov

  
  

• Local police: (if you’ve been a victim of identity theft)

Lots of sheriff’s offices and consumer protection agencies offer free resources online to help you stay informed about new scams.

Real Coinbase support will never ask for your private keys, passwords, or 2FA codes. They always use official channels—either in the app or via verified emails.

Frequently Asked Questions (FAQs)

Coinbase withdrawal code scams have a few telltale signs. People often want to know how to spot a fake message and what to do if they’ve already fallen for one.

How can I identify a fake Coinbase withdrawal text message?

Fake texts usually come from random numbers, not official Coinbase contacts. They use urgent language, saying someone’s about to access your account or withdraw your money.

These scam texts give you a number to call for help and ask you to verify your identity or share one-time codes over the phone.

Real Coinbase messages never ask for private info like 2FA codes or private keys. They don’t send withdrawal codes by text to fix account issues.

What steps should I take if I receive a suspicious text message claiming to be from Coinbase?

Don’t reply, and don’t call any numbers in the message. Delete the text so you don’t accidentally interact with it later.

If you can, take a screenshot before deleting and send it to [email protected] so Coinbase can track these scams.

If you have a real Coinbase account, log in through their website or app to check for any issues. Never use links or numbers from a suspicious text.

Are there common characteristics of text scams associated with Coinbase withdrawals?

These scams almost always follow the same pattern. They claim to send you a withdrawal code, then warn you not to share it with anyone.

You’ll see lines like "If you have not requested this" and instructions to call a number. Sometimes, they throw in a fake reference number to sound more official.

Scammers target both Coinbase users and people who’ve never signed up. They hope non-users will call just to clear up the confusion.

What measures has Coinbase implemented to protect users from text-based phishing attempts?

Coinbase has set clear communication rules to help users spot fake messages. They say they’ll never ask for private info through texts or phone calls.

Coinbase also educates users about common scams through their official channels. They remind you to check that any message really comes from a Coinbase account or email.

How can I verify the authenticity of a withdrawal notification from Coinbase?

Log into your Coinbase account directly through their website or app. Check your transaction history for any real withdrawal requests.

If you’re not sure, contact Coinbase support using the info on their website. Don’t trust phone numbers or links in shady texts.

Legit account alerts show up in your Coinbase dashboard. The company doesn’t use text messages to send withdrawal codes or fix security problems.

What should I do if I inadvertently provided personal information in response to a Coinbase scam text?

First things first—change your passwords right away, especially for your banking and crypto accounts. If you haven't already, turn on two-factor authentication for some extra peace of mind.

If you handed over any financial details, call your bank or credit card company. Let them know about the scam and keep an eye out for anything weird happening with your accounts.

If things feel serious, like identity theft, go ahead and file a report with local law enforcement and the Federal Trade Commission. They can walk you through the next steps and help you lock things down.