A Brooklyn man has been sentenced for running a Coinbase impersonation scam that targeted cryptocurrency users through social engineering tactics.
The case highlights the growing risks linked to fake customer support operations across digital asset platforms.
Authorities said the fraud scheme relied on deception rather than advanced hacking techniques. Investigators traced stolen funds through blockchain records and digital evidence before bringing the operator to justice.
Ronald Spektor, 23, of Brooklyn, received a four-to-12-year prison sentence on September 23 after pleading guilty to stealing nearly $16 million in cryptocurrency from about 100 Coinbase users. He must also forfeit more than $500,000 in cash, crypto assets and personal property while repaying almost the entire stolen amount.
Brooklyn Supreme Court Justice Danny Chun issued the sentence after prosecutors brought 31 criminal counts against Spektor.
The charges included first-degree money laundering, first-degree grand larceny and first-degree criminal possession of stolen property, according to the Brooklyn District Attorney’s Office.
Coinbase support scam targeted users through phone calls
Spektor’s Coinbase impersonation scam operated for about a year by convincing customers that their cryptocurrency accounts were under threat. Prosecutors said he contacted victims through phone calls while pretending to represent the crypto exchange’s support team.
The scammer allegedly warned users that hackers could steal their assets unless they transferred funds into a new secure wallet. He then guided victims through moving their cryptocurrency into wallets controlled by him.
Once users transferred their assets, Spektor emptied the wallets and moved the stolen funds through multiple transactions. Some victims lost more than $1 million, according to prosecutors.
The indictment showed that Spektor attempted to hide the movement of stolen cryptocurrency through several swaps across different exchanges. Investigators said the funds eventually moved toward cash-out points, with some money flowing to gambling platforms and online stores.
Prosecutors initially requested a sentence of seven to 21 years. However, the court imposed a four-to-12-year prison term. Spektor also received an order to repay nearly $16 million in restitution.
Blockchain evidence helped investigators track Spektor
Authorities used blockchain analysis, transaction records, digital forensics, and evidence collected through search warrants to identify Spektor. The Brooklyn District Attorney’s Virtual Currency Unit, led by Assistant District Attorney Alona Katz, handled the investigation.
Prosecutors connected Spektor’s home IP address to several cryptocurrency wallets involved in the thefts. They also said he publicly discussed his activities through online platforms, including a Telegram channel called “Blockchain enemies” under the handle @lolimfeelingevil.
Investigators found messages where Spektor claimed he lost millions through gambling and suggested he had earned large amounts from scams. Authorities also said he recruited others through online forums to participate in social engineering attacks.
After allegations emerged online, prosecutors said Spektor abandoned one crypto hardware wallet and purchased another in an attempt to avoid detection.
Brooklyn District Attorney Eric Gonzalez said the investigation showed authorities could track cryptocurrency-related crimes through digital evidence. “We will follow the digital trail wherever it leads,” Gonzalez said.
The case follows a wider wave of Coinbase impersonation scams linked to stolen customer information. In May 2025, Coinbase suffered a data breach after overseas support agents allegedly accepted bribes to expose customer information.
Coinbase said the breach affected less than 1% of its monthly transacting users and did not expose passwords, private keys, or customer funds. However, the leaked information contributed to phishing and fake support campaigns targeting users.
Other investigations have also uncovered similar activity. Blockchain investigator ZachXBT previously linked around $2 million in crypto thefts to a Canadian scammer using a comparable customer support impersonation method.
Separately, Coinbase and Microsoft helped disrupt EvilTokens, an AI-assisted phishing-as-a-service network. The investigation resulted in UK authorities arresting two individuals on September 11.
