Brooklyn Man Sentenced to 12 Years for Coinbase Crypto Scam

A Brooklyn man has been sentenced to up to 12 years in prison for masterminding a $16 million crypto scam that targeted about 100 Coinbase users.

Ronald Spektor, 23, posed as a Coinbase representative and warned victims of hackers threatening their accounts. He then instructed them to transfer their crypto to wallets presented as secure but secretly accessible to him.

The scheme generated approximately $15.944 million in losses, with some victims losing over $1 million. Spektor pleaded guilty to charges including first-degree money laundering, grand larceny, and criminal possession of stolen property.

Prosecutors said the stolen crypto was laundered through repeated swaps, exchanges, and mixing services before reaching cash-out points. Funds were converted into other tokens, sent to gambling platforms, and used at online storefronts.