Brooklyn man sentenced to 12 years for $16M Coinbase customer support scam
In brief
- Ronald Spektor, 23, sentenced to 4–12 years in prison for stealing nearly $16 million from Coinbase users.
- Spektor impersonated Coinbase security staff, tricking victims into moving crypto to wallets he controlled.
- About 100 victims nationwide lost funds; some individual losses exceeded $1 million.
The Scheme
Spektor posed as a Coinbase representative and warned users that hackers were threatening their accounts. Victims were then instructed to move their crypto to wallets presented as secure but secretly accessible to Spektor. The operation generated approximately $15.944 million in losses, with some victims losing more than $1 million.
One Pennsylvania victim received spoofed two-factor authentication messages before a caller claiming to be "Fred Wilson from Coinbase security" warned of an attempted crypto transfer. That victim lost about $53,150. Investigators had interviewed more than 70 victims when charges were announced in December 2025. The sentencing release raised the estimated victim count to about 100 nationwide.
Money Laundering and Evidence
After stealing crypto, Spektor moved funds through repeated swaps, exchanges and mixing services before reaching cash-out points. Funds were converted into other tokens, sent to gambling platforms and used at online storefronts, including for gift cards and digital assets.
Blockchain analysis, transaction records and search warrants tied Spektor to the operation. His home IP address was linked to several wallets associated with stolen funds. Investigators also found evidence that he recruited other social engineers through online forums and operated a Telegram channel under the handle @lolimfeelingevil, where prosecutors said he boasted about thefts. Messages recovered from his phone showed he discarded one hardware wallet after fraud allegations surfaced online and bought another.
Sentencing and Restitution
Spektor pleaded guilty on September 2 to charges including first-degree money laundering, grand larceny, and criminal possession of stolen property. He pleaded guilty to the full indictment in exchange for a promised sentence of four to 12 years.
The district attorney's office objected and asked Justice Danny Chun to impose seven to 21 years, but the judge upheld the earlier commitment. The court ordered Spektor to forfeit more than $500,000 in cash, cryptocurrency, and personal property and to pay nearly $16 million in restitution. The forfeiture represents only a fraction of the estimated losses.
Coinbase warns customers that its support staff will never ask them to transfer funds to a new wallet, disclose seed phrases or provide passwords and authentication codes.
