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Coinbase Scammer Sentenced to Four to Twelve Years for $16M Crypto Heist

Guavy AI Editorial Team
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A 23-year-old Brooklyn man has been sentenced to four to 12 years in prison for stealing nearly $16 million from about 100 Coinbase users through phishing and social engineering.

Ronald Spektor impersonated Coinbase representatives, scaring victims into transferring their cryptocurrency to his control. He then laundered the stolen assets by swapping them, mixing them, or gambling with them on various online services.

The investigation, led by Brooklyn District Attorney Eric Gonzalez's Virtual Currency Unit, was a year-long effort that followed digital trails and linked Spektor's IP address to the cryptocurrency wallets.

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