Coinbase users have fallen victim to social engineering scams, resulting in losses totaling over $46 million in March, according to blockchain investigator ZachXBT. The most significant incident involved a single user losing approximately $34.9 million, equivalent to 400 BTC, in a suspected scam. These scams are part of a broader pattern, with multiple thefts reported in the past two weeks. The stolen funds were reportedly bridged from Bitcoin to Ethereum using platforms like Thorchain and Chainflip, then converted into the stablecoin DAI. Hackers have been observed selling the converted Ethereum, with transactions amounting to 14,064 ETH being sold for $27.5 million in DAI at an average selling price of $1,956. Additionally, a newly created wallet received 3,433 ETH from Thorchain and sold it for 6.8M DAI at a price of $1,981. ZachXBT has criticized Coinbase for failing to flag the theft addresses involved in these scams, suggesting that the exchange's compliance tools are inadequate in protecting users from such fraudulent activities. The Crypto Crime Task Force T3 FCU has also taken action, freezing $9 million in USDT tied to the Bybit Hack and blocking over $150 million in illicit funds over the past six months.