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Brooklyn man sent to prison for 12 years for stealing $16M in a Coinbase phishing scheme

Coindesk • September 24, 2026

The fraudster managed to scam 100 people across the United States, convincing them of transferring funds to him, claiming their accounts had been hacked.

Ronald Spektor, 23, was sentenced to up to 12 years in prison after pleading guilty to stealing nearly $16 million from almost 100 Coinbase users through a phishing and social engineering scheme.

Spektor persuaded victims to transfer cryptocurrency to accounts he controlled, then laundered the assets through exchanges, other cryptocurrencies, bets, gift cards and cash-out points.

Authorities ordered Spektor to pay nearly $16 million in restitution and forfeit more than $500,000 in assets as social engineering scams increasingly target individual cryptocurrency holders.

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The full story

This article is one source in a clustered incident — the cluster page carries the summary, timeline and every other outlet covering it.

Brooklyn Man Sentenced for $16M Coinbase Phishing Scheme Ronald Spektor, a 23-year-old from Sheepshead Bay, Brooklyn, was sentenced to four to 12 years in prison for a phishing scheme that defrauded nearly 100 Coinbase users out of approximately $16 million. Spektor impersonated Coinbase representatives, convincing victims their accounts were compromised and instructing them to transfer their cryptocurrency to wallets he controlled. Over the course of a year, he executed this scheme, resulting in significant financial losses for victims, some exceeding $1 million. The stolen assets were laundered through various exchanges and gambling platforms. Spektor was ordered to forfeit over $500,000 in assets and pay restitution of nearly $16 million. He pleaded guilty to a 31-count indictment, including charges of money laundering and grand larceny. The case highlights the growing threat of social engineering attacks targeting individual cryptocurrency holders. 10 sources 44

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Brooklyn man sent to prison for 12 years for stealing $16M in a Coinbase phishing scheme

The full story

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Companies (1)

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MITRE ATT&CK (1)