PANews reported on March 28 that ZachXBT, an on-chain detective, said in the official channel, "Yesterday a Coinbase user was suspected of being defrauded of $34.9 million (400.099 BTC). After discovering this scam, it was noted that there have been several suspected cases of Coinbase users being defrauded in the past two weeks. Each stolen fund was transferred from Bitcoin to Ethereum via Thorchain/Chainflip and converted to DAI. Coinbase did not mark these addresses in its compliance tools."