According to the source, Australian authorities warned that criminals are abusing the national cybercrime reporting platform to drain crypto wallets, creating direct theft risk for digital asset holders and traders. According to the source, the alert indicates that attack paths tied to official reporting workflows are being exploited to compromise wallet security, resulting in immediate fund loss when successful. According to the source, market participants with Australian exposure should heighten operational security, verify any communications referencing the national platform via official government channels, and tighten wallet signing and withdrawal controls to mitigate wallet-draining risk.

According to ZachXBT, Coinbase users have faced account restrictions due to aggressive risk models, which aim to combat significant financial losses from social engineering scams, estimated at over $300 million annually. This preventive measure affects trading activities by limiting account access, indicating the need for enhanced security protocols and user awareness to mitigate risks and improve trading conditions.