Nearly $16 Million Stolen: Scammer Impersonating Coinbase Support Sentenced to 4 to 12 Years in Prison

Odaily News: The Brooklyn District Attorney's Office announced that 23-year-old Brooklyn man Ronald Spektor has been sentenced to 4 to 12 years in prison for carrying out phishing and social engineering fraud. Over the course of approximately one year, he impersonated Coinbase customer support, claiming that users' accounts had been hacked and their assets were at risk, luring about 100 U.S. users into transferring cryptocurrency to wallets he controlled, stealing a total of nearly $15.94 million. He then laundered the funds through multiple exchanges, mixing services, and crypto gambling platforms. On September 2, Spektor pleaded guilty to all 31 charges, including first-degree money laundering and first-degree grand larceny, and was ordered to forfeit cash, cryptocurrency, and personal property worth over $500,000, as well as pay nearly $16 million in restitution.