On July 8th, at least three Coinbase users and one cryptocurrency user became targets of scammers impersonating Coinbase, with one victim being scammed out of $1.7 million. The scammers directed the victims to a website where they were asked to enter their mnemonic phrase to stop a transaction. The victims knew this was "unsafe," but still entered a "partial" phrase without submitting it. A few hours later, the victim's wallet was robbed of $1.7 million in cryptocurrency.