Brooklyn Man Sentenced to Up to 12 Years for Stealing $16M from Coinbase Users

A Brooklyn man has been sentenced to four to 12 years in prison for stealing nearly $16 million from around 100 Coinbase users. Ronald Spektor, 23, pleaded guilty to all 31 counts against him, including first-degree money laundering and grand larceny.

Spektor contacted victims claiming to work for Coinbase, telling them their funds were at risk due to a hacker. He then persuaded them to move their assets to a new wallet he controlled, which he could access and empty of its contents.

The scheme involved multiple exchanges, with Spektor swapping the stolen crypto repeatedly before consolidating it into cash-out points for conversion into other tokens, cash, or gift cards. A significant portion went towards gambling services and online storefronts.

Investigators tied the scam to Spektor using transaction records, blockchain analysis, digital forensics, and material seized under search warrants. His home IP address was linked to multiple wallets containing stolen crypto.