Coinbase Warns of Potential Scams Amid Wrapped HYPE and ZEC Launch

Coinbase has added support for two new wrapped assets: cbHYPE and cbZEC, which are ERC-20 tokens backed by Hyperliquid (HYPE) and Zcash (ZEC) held in custody by Coinbase.

The recent addition of support for these assets expands their utility, as they can now be used on-chain across a range of DeFi apps like every other wrapped asset Coinbase supports.

Coinbase warns that there may be fraudulent actors pretending to be cbHYPE and cbZEC, so it shared the official Base contract addresses for these tokens: cbHYPE (0xB200000000000000000000451d033a5000cb479e) and cbZEC (0xB2000000000000000000008501b13360000cb2EC).

This warning remains relevant, particularly for newly launched tokens, where users may encounter unofficial contract addresses or accounts claiming to represent the legitimate asset.