Impersonator Sentenced to Prison for Stealing Over $16 Million in Crypto Scam

Ronald Spektor, an impersonator who posed as a Coinbase representative, was sentenced to 4-12 years in prison for stealing $15.9 million from about 100 users.

The scam lasted around a year and targeted users across the United States, with some losing over $1 million.

Spektor contacted victims, claiming their crypto assets were under threat from hackers, and convinced them to transfer their funds to new wallets that he could access.

The stolen assets were repeatedly exchanged on various crypto exchanges and converted into cash or other cryptocurrencies before being used for gifts cards, digital assets, and wagered.