Brooklyn DA Charges Suspect in $16M Coinbase Support Scam
- Brooklyn DA charged a 23-year-old over a $16M Coinbase impersonation fraud scheme.
- Scam used spoofed calls, texts, and emails to trick users into wallet transfers nationwide.
- Prosecutors traced laundering through mixers, swaps, and gambling sites, seizing assets.
Brooklyn prosecutors charged a 23-year-old man in a $16 million Coinbase impersonation scheme targeting users nationwide. District Attorney Eric Gonzalez said the yearlong investigation uncovered phishing calls, spoofed messages, and wallet transfers draining about 100 victims. Charges detailed how trust-based deception enabled theft and laundering.
Charges, Arrest, and Seized Evidence
According to the Brooklyn District Attorney’s Office, Ronald Spektor of Sheepshead Bay was indicted on 31 counts. Those charges include first-degree grand larceny, first-degree money laundering, and a scheme to defraud. Notably, prosecutors said Spektor posed as a Coinbase representative during direct outreach.
Investigators alleged Spektor warned users their accounts faced hacking threats. He then instructed victims to move assets to a “safe” wallet. However, those wallets remained accessible to him, allowing rapid withdrawals after transfers.
Prosecutors said the scheme ran for at least a year. During that period, about $15.94 million moved from victims to wallets connected to the defendant. Authorities interviewed more than 70 victims during the investigation.
During searches, investigators seized about $105,000 in cash and roughly $400,000 in cryptocurrency. However, officials said they continue efforts to secure additional assets tied to the alleged thefts. The court set bail at $500,000, rejecting a bond offer from Spektor’s father.
How the Impersonation Scheme Operated
The District Attorney’s Office said the fraud relied on social engineering rather than platform breaches. Victims reported receiving calls, emails, and texts appearing to come from Coinbase security. Notably, attackers used spoofed two-factor authentication messages to increase urgency.
Several victims described coordinated contact across channels. A Pennsylvania man said spoofed Coinbase and Google messages preceded a call from a fake security agent. He later lost about $53,150 after transferring assets as instructed.
Authorities said Spektor allegedly laundered funds using swapping services, mixers, and crypto gambling sites. Investigators traced assets through multiple exchanges before consolidation at cash-out points. From there, funds allegedly funded gambling, purchases, and conversions.
Prosecutors also cited online activity linking Spektor to the scheme. They alleged his home IP address connected to wallets receiving stolen assets. Additionally, they said he recruited others online to act as social engineers.
Related: Coinbase Institutional Says Crypto Market Is in 1996 Phase
Law Enforcement Focus and Platform Cooperation
District Attorney Gonzalez said the case reflects focused enforcement against individual perpetrators. Rather than alleging platform failures, prosecutors emphasized off-chain impersonation tactics. This approach aligns with consumer protection efforts targeting phishing and identity deception.
Coinbase Chief Legal Officer Paul Grewal said the company supported the investigation. According to Grewal, Coinbase helped identify victims, preserved records, and assisted with on-chain tracing. Prosecutors stated they found no evidence of a Coinbase security breach.
Investigators said Spektor used encrypted apps, including Telegram and Discord. On Telegram, he allegedly ran a channel called “Blockchain enemies.” Prosecutors said recovered messages showed he bragged about thefts and gambling losses.
Victims lived across the United States, prosecutors said. A California resident reported losses exceeding $1 million. A Virginia resident reported losses of more than $900,000, while others reported smaller but significant amounts.
The DA’s Office credited assistance from Coinbase and Flashpoint. Officials also outlined public guidance, stressing companies do not request wallet transfers. They advised users to verify contacts through official in-app channels.
The Brooklyn District Attorney’s Office said the investigation combined blockchain analysis, digital forensics, and search warrants. According to prosecutors, that evidence tied communications, wallets, and transactions to the defendant. The case is pending in the New York Supreme Court.
Meanwhile, Brooklyn prosecutors allege Ronald Spektor started a nationwide impersonation scheme exploiting trust rather than technology. Investigators traced nearly $16 million in losses through coordinated outreach, wallet control, and laundering routes. Authorities seized assets, filed extensive charges, and emphasized targeted enforcement against individual actors.
