A 23-year-old Brooklyn man has been charged with stealing roughly $16 million in cryptocurrency from about 100 Coinbase users, according to prosecutors.
Authorities say Ronald Spektor posed as a Coinbase employee, contacting victims and warning them their accounts were in immediate danger. The calls and messages were designed to create panic, prosecutors said, pressuring users to move their funds quickly — straight into wallets Spektor allegedly controlled.
How the alleged scheme worked
According to the Brooklyn District Attorney’s Office, Spektor relied on social engineering, not technical hacks. Victims were told their crypto could be stolen unless they acted right away, a tactic prosecutors say short-circuited skepticism and pushed people into making rushed decisions.
Once the funds were transferred, Spektor allegedly tried to cover his tracks by routing the crypto through mixers, token swaps, and crypto gambling platforms, steps investigators say were meant to make recovery more difficult.
Prosecutors said Spektor operated online under the alias “lolimfeelingevil” and even bragged about his activity in a Telegram channel called “Blockchain enemies.” In recovered messages, he allegedly claimed to have lost $6 million through gambling, offering a rare glimpse into what happened to some of the stolen funds.
Charges and investigation
Spektor was arraigned Friday on 31 charges, including first-degree grand larceny, first-degree money laundering, and participating in a scheme to defraud. The charges stem from a year-long investigation by the Brooklyn District Attorney’s Office.
As part of the probe, authorities seized roughly $105,000 in cash and about $400,000 in digital assets. Prosecutors said efforts to recover additional funds are ongoing.
A judge set bail at $500,000 and denied a request for Spektor’s father to post bond, citing concerns about the source of the funds. Spektor lives with his father in Sheepshead Bay, Brooklyn, prosecutors said.
One of the alleged victims previously contacted blockchain investigator ZachXBT, who published an investigation last year detailing the scam. According to that report, the individual claimed losses of $6 million.
Broader security concerns
The case lands as Coinbase continues to face scrutiny over user security. Earlier this year, the exchange disclosed a data breach affecting nearly 70,000 users, estimating related costs at around $400 million. Coinbase said it reimbursed affected customers and strengthened its controls following the incident.
In a statement, Coinbase said it worked closely with the Brooklyn District Attorney’s Office and its Virtual Currency Unit, helping identify the suspect and victims, sharing on-chain data, and assisting in tracing the allegedly stolen assets.
