According to online reports, Cointelegraph reported that recently, many cryptocurrency users received a large number of fraudulent emails posing as exchanges Coinbase and Gemini. The emails stated that users must transfer assets to self-managed wallets by April 1 and provide pre-generated mnemons. The scammers claim that due to the class action lawsuit, the court will require users to manage their own wallets and Coinbase will only operate as a registered broker. Coinbase has confirmed the fraud and stressed that it will never send mnemonic words to users, and users should not use mnemonic words provided by others.