Crypto
Brooklyn Man Gets Up to 12 Years for Stealing $15.9 Million from Coinbase Users
A Brooklyn man has been sentenced to up to 12 years in prison for stealing $15.944 million from approximately 100 Coinbase users through phishing and social engineering.
Ronald Spektor, a 23-year-old Brooklyn resident, pleaded guilty to all 31 counts in the case, including first-degree money laundering, grand larceny, and criminal possession of stolen property.
The scheme involved impersonating a Coinbase representative, warning users of hackers threatening their accounts, and directing them to transfer cryptocurrency to wallets presented as being controlled by Coinbase but accessible to Spektor.
The case ran for over a year, affecting around 100 users who lost significant amounts, with some losing $1 million or more.