Brooklyn man sentenced for $16M Coinbase crypto scam
6.6 Security Ronald Spektor received up to 12 years in prison for stealing $16M from 100 Coinbase users via a phishing scam. He must forfeit assets and pay restitution.
Ronald Spektor, a 23-year-old from Brooklyn, has been sentenced to up to twelve years in prison after pleading guilty to a 31-count indictment for stealing nearly $16 million from around 100 Coinbase users. Over the span of a year, Spektor impersonated Coinbase representatives, contacting users and warning them of fabricated threats to their accounts. He convinced victims to transfer their cryptocurrency to wallets he controlled, claiming it was for asset security. The stolen funds were laundered through various exchanges, bets, gift cards, and cash-out points. While prosecutors sought a longer sentence, the court imposed a four to twelve-year term. Spektor must also forfeit over $500,000 in assets and pay restitution. The case highlights the increasing threat of social engineering scams targeting cryptocurrency holders, with some victims losing over $1 million each.
