A Coinbase user has lost $11.6 million worth of Bitcoin in a scam. A federal judge this month approved a warrant to return $600,000 in Bitcoin from a Huobi Global wallet to the user. According to the federal investigators, the $600,000 found on a Huobi Global wallet was a portion of the $11.6 million stolen from the trader’s Coinbase account.

In April, the scam victim bought 200 Bitcoin. Right after the buy, a notification appeared on the user’s device telling them that their Coinbase account is locked. According to the complaint filed by the U.S. Attorneys Office in Los Angeles, the user received a notification that seemed like it is coming from Coinbase although it wasn’t the case.

In fact, the notification was coming from the fraudster who had set up the scam. Consequently, the hacker transferred $11.6 million worth of Bitcoin – about 206 Bitcoin, investigators said.

It is still unknown how the alleged hacker knew about the Coinbase transaction. Coinbase declined to comment.

The victim allowed the scammer to access his account

The victim was identified in court documents as G.R. He received a notification that allured him that he’ll connect to a Coinbase customer service rep, according to a federal complaint filed by investigators last month.

An "unidentified individual 1," or "UI-1," answered the call and asked G.R. to make a series of changes to the account, according to the complaint.

The complaint explained that the victim allowed for remote access to the account.

"Once granted access to the Victim Account, UI-1 increased the daily transaction limit and also attempted to deactivate certain notifications and alert settings on the Victim Account," Dan G. Boyle, assistant US attorney, wrote in a document filed in US District Court in the Central District of California in September.

At a glance, millions worth of Bitcoin and XLM were transferred from G.R.’s Coinbase account, investigators added.

"The total value of virtual currency transferred out of the Victim Account between 2:02:40 PST and 2:12:41 PST on or about April 20, 2021, without G.R.'s authorization was approximately $11,570,138," they wrote in their complaint.

Consequently, the alleged hacker moved the cryptos through several transactions between different accounts. About 10.2 Bitcoin was found in an account with Huobi Global, a popular crypto exchange, according to investigators.

A forfeiture notification seeking to reclaim stolen Bitcoins was issued by investigators.

Judge Dolly M. Gee approved the warrant request in early October in case someone other than G.R. wanted to claim ownership of the Bitcoins.

"Huobi has agreed to maintain a freeze on the funds pending resolution of the forfeiture action," Thom Mrozek, director of media relations for the US Attorneys Office in Los Angeles, told Insider via email. "No one has been arrested or charged, but our investigation is ongoing."