The post Brooklyn Man Indicted for Allegedly Stealing $16 Million from Coinbase Users Through Phishing Scheme appeared on BitcoinEthereumNews.com.

Ronald Spektor of Sheepshead Bay was arrested on December 4, 2024, and arraigned on Friday, December 20, 2024, on a 31-count indictment that includes first-degree grand larceny, first-degree money laundering, and participating in a scheme to defraud. He pleaded not guilty to all charges. The case represents one of the largest social engineering cryptocurrency scams prosecuted at the state level. How the Scheme Worked Between April 2023 and December 2024, Spektor allegedly contacted Coinbase users by phone, email, and text message while pretending to be a company representative. According to Brooklyn District Attorney Eric Gonzalez, he told victims their cryptocurrency accounts were at risk from hackers and needed immediate action. The scheme relied on creating panic. Spektor allegedly hired automated bots to bombard targets with fake two-factor authentication alerts from Coinbase and Google. These messages made the threat seem more believable and urgent. “What the victims didn’t know is that the text comes from the defendant and that he created the wallet,” Gonzalez explained during a press conference. “So, he knows the seed phrase, and so as soon as the money is transferred, he’s just waiting for it.” Source: brooklynda Victims believed they were moving their cryptocurrency to secure wallets under their control. In reality, they were transferring funds directly to accounts Spektor controlled because he possessed the private seed phrases for these wallets. The Investigation and Arrest The Brooklyn District Attorney’s Virtual Currency Unit conducted a year-long investigation into the phishing operation. The probe gained momentum after blockchain investigator ZachXBT published research in November 2024 following contact from a victim who lost $6 million. Investigators traced the fraudulent activity back to Spektor’s home IP address through blockchain transaction analysis and digital evidence. They discovered he operated under the online alias “@lolimfeelingevil” and used a Telegram channel called “Blockchain enemies”…

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Filed under: News - @ December 20, 2025 9:16 pm