Man sentenced to 12 years for $16 million Coinbase impersonation scam

Ronald Spektor, 23, was sentenced to 4 to 12 years in prison for impersonating Coinbase customer support to defraud approximately 100 victims of $15.94 million. The perpetrator induced victims to transfer assets into "secure wallets" under his control by claiming their accounts were compromised. Spektor pleaded guilty to 31 charges, including money laundering and grand larceny. While the court ordered full restitution, only about $500,000 in assets were identified for forfeiture.