Cryptocurrency transactions are irreversible, if you send cryptocurrency to a third party, you cannot reverse it or stop payment. When you send cryptocurrency to a blockchain address, you must be certain of the legitimacy of any involved third-party services and merchants, and only send cryptocurrency to entities you trust.
Pro tip: If it sounds too good to be true, it probably is.
Scammers are using social media to perpetuate giveaway scams. They post screenshots of forged messages from companies and executives promoting a giveaway with hyperlinks to fraudulent websites. Fake accounts will then respond to these posts affirming the scam as legitimate. The fraudulent websites will then ask that you “verify” your address by sending cryptocurrency to the scam giveaway.
Note that Coinbase will never ask you to send crypto to an address in order to receive crypto back.
Never send cryptocurrency to giveaways under the guise of address verification.
Be skeptical of all giveaways and offers found on social media. Do not trust screenshots in reply messages as images can be forged and altered.
Use your favorite search engine to do research on any entity soliciting you on social media. If the offer sounds too good to be true, it probably is.
Check the giveaway URL to make sure it directs you to Coinbase.com.
Report any phishing attempts or scams.
Coinbase’s legitimate social media profiles are listed in this help article. Any other profiles should be considered fraudulent.