Coinbase Stock Plummets 14.84% in Three Days Despite 70.5% Trading Volume Surge to $1.764 Billion Ranking 23rd

On March 28, 2025, Coinbase Global (COIN) experienced a significant drop of 7.77%, marking its third consecutive day of decline and a total decrease of 14.84% over the past three days. Despite the decline, Coinbase's trading volume surged by 70.5% to $1.764 billion, placing it at the 23rd position in the daily trading volume rankings.

One of the key factors contributing to the recent decline in Coinbase's stock price is the reported scam involving a Coinbase user who allegedly lost approximately $34 million worth of Bitcoin. Crypto investigator ZachXBT revealed that scammers may have stolen around 400 BTC from the user on March 27. This incident has raised concerns about the security of digital assets on the platform and has likely contributed to the negative sentiment surrounding Coinbase's stock.

The incident highlights the ongoing challenges faced by cryptocurrency exchanges in ensuring the safety of user funds. While Coinbase has implemented various security measures, the reported theft underscores the need for continuous vigilance and improvement in security protocols. The company will need to address these concerns to regain investor confidence and stabilize its stock price.