Coinbase Scam Sentencing
Brooklyn Man Sentenced to Prison for Stealing Millions From Coinbase Users
Anonymous
Key Points
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In some cases, Spektor persuaded victims to provide their cryptocurrency wallet seed phrases, giving him direct control over their assets.
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Investigators found that Spektor lost approximately $6 million of the stolen cryptocurrency at crypto casinos after routing funds through exchanges and cash-out points.
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Spektor used online aliases including “Fred Wilson” and “James Wilson” when posing as Coinbase security personnel, and operated a Telegram channel called “Blockchain enemies.”
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The prosecution had sought a sentence of seven to 21 years, but Spektor received four to 12 years under a plea agreement.
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Brooklyn District Attorney Eric Gonzalez said investigators had “painstakingly pieced together the digital proof” and vowed to “follow the digital trail wherever it leads” in pursuing crypto scammers.
Ronald Spektor, a 23-year-old Brooklyn man, was sentenced to four to 12 years in prison for stealing nearly $16 million from about 100 Coinbase users through phishing and social engineering CoinMarketCap. Spektor impersonated Coinbase security personnel, using spoofed calls and messages to trick victims into transferring cryptocurrency to wallets he controlled CryptoRank.
In some cases, Spektor obtained victims' cryptocurrency wallet seed phrases, giving him direct access to their accounts CryptoTimes. He laundered the stolen funds through exchanges, casinos, and mixing services, losing about $6 million at crypto gambling platforms Altcoin Buzz. Spektor was ordered to forfeit over $500,000 in assets and pay $16 million in restitution Crypto-Economy.
How Spektor Tricked Victims Into Handing Over Crypto
Spektor posed as Coinbase security staff using online aliases like 'Fred Wilson' and 'James Wilson' CoinMarketCap. He sent fake messages claiming victims' accounts were under attack. Then he convinced them to move their cryptocurrency to 'secure' wallets he actually controlled. In the worst cases, victims gave him their seed phrases — essentially the master key to their accounts CryptoRank.
Massive Losses Spread Across the Country
The 100 victims were scattered nationwide, losing vastly different amounts. California victims lost over $1 million combined, while Virginia victims lost more than $900,000 CryptoTimes. Spektor's scheme was methodical — he carefully tracked which victims had the most cryptocurrency and targeted them first Altcoin Buzz.
Spektor Gambled Away Millions Then Left Digital Breadcrumbs
After stealing the cryptocurrency, Spektor tried to hide his tracks. He moved funds through exchanges, cash-out points, and mixing services designed to obscure the money's origin Crypto-Economy. But he made a critical mistake — he lost approximately $6 million at crypto casinos CoinMarketCap. Worse, he bragged about the fraud online using a Telegram channel called 'Blockchain enemies' CryptoRank.
Plea Deal Gave Spektor Lighter Sentence Than Prosecutors Sought
Prosecutors originally sought seven to 21 years in prison CryptoTimes. But Spektor pleaded guilty to all 31 counts and accepted a plea agreement that brought his sentence down to four to 12 years Altcoin Buzz. Brooklyn District Attorney Eric Gonzalez said investigators 'painstakingly pieced together the digital proof' and vowed to 'follow the digital trail wherever it leads' in pursuing other crypto scammers CryptoTimes.
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