The man, identified only as J.S., told police he was using his phone when he received an email that appeared to be from Coinbase, a popular cryptocurrency platform. The email looked like a support message, so he clicked on a link. Soon after, he realized it was a phishing scam and checked his Coinbase Wallet app — but it was too late. His digital assets, including over 40 Bitcoins, were already being transferred out of his account.
Investigators from the Minnesota Bureau of Criminal Apprehension (BCA) are now looking into the case. A search warrant was filed this week to collect information from the main suspect’s social media account. So far, no arrests or charges have been made.
Brooklyn Park police, whose cybercrime unit is leading the investigation, said the suspect might have connections to Nigeria. The suspect claimed the stolen Bitcoin was given to him anonymously, but investigators believe he is more involved in the theft.
Bitcoin transactions are difficult to trace because they can be done anonymously, and criminals often move funds through multiple accounts to hide their tracks. Police say the way the stolen Bitcoin was moved points to money laundering.
J.S. contacted Coinbase right after the theft, but the company said it couldn't stop the transactions because its Wallet app and its exchange service are separate.
Police are using information from Binance, another cryptocurrency platform, to track the suspect. The suspect was identified through Nigerian documents and a photo he submitted to Binance.
Brooklyn Park Sgt. Jake Tuzinski, who is leading the case, urged people to slow down and double-check the details of emails they receive. “Verify who the email is coming from. Don’t just look at the name—check the actual email address,” he said.
How to Protect Your Crypto:
Cybersecurity experts recommend the following tips to keep your crypto safe:
• Never share your seed phrase or private key.
• Always double-check website addresses and watch for typos.
• Download apps and extensions only from official app stores.
• Turn on two-factor authentication.
• Bookmark official crypto websites for easy and safe access.
This case highlights how dangerous phishing scams can be, especially for people who hold valuable digital assets. Investigators are continuing to work on the case and plan to hand it over to federal prosecutors once it’s complete.
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