Fake Coinbase Representative Who Stole Nearly $16 Million Gets Up to 12 Years in Prison

By Isaac • September 24, 2026 9:22 am •

A Brooklyn man who posed as a Coinbase representative and convinced users to move their crypto into wallets he controlled has been sentenced to four to 12 years in prison.

Prosecutors say Ronald Spektor stole nearly $16 million from about 100 victims in a long-running social-engineering scheme. The case is a blunt reminder that some of the biggest crypto losses do not begin with a broken blockchain or a hacked exchange.

They begin with a convincing phone call.

The Brooklyn District Attorney’s Office says Spektor, 23, contacted Coinbase users while pretending to be an exchange representative. He told victims their assets were at risk from a hacker and persuaded them to transfer funds into what they