A 23-year-old man from Brooklyn, New York, is facing serious legal charges for allegedly orchestrating a massive cryptocurrency theft. Ronald Spektor is accused of stealing a staggering $15 million from customers of the Coinbase exchange by pretending to be a customer support agent.
The Mechanics of the Multi-Million Dollar Scam
According to a criminal complaint filed by US prosecutors, Spektor's scheme was a long-running operation that lasted from April 2023 until his arrest earlier this month. He reportedly contacted around 100 people across the United States, convincing them he was a legitimate Coinbase employee.
The scam involved phone calls where Spektor, posing as support staff, warned victims that their funds were in imminent danger. He instructed them to move their digital assets to a new, secure wallet. Believing the caller was genuine, the victims then provided their secret seed phrases—the 12 to 24-word passwords that control cryptocurrency wallets.
Once Spektor had these phrases, he gained full control. The complaint states that victims' cryptocurrency was immediately transferred to wallets under his control and withdrawn without permission. One California user lost over $6 million, while another suffered a $1 million loss.
Tracking the Stolen Funds and Digital Evidence
Investigators from the NYPD and the Kings County District Attorney’s Office traced the flow of the stolen money. They found that more than $5 million was sent to Spektor's accounts on two online gambling platforms. Additional millions were converted to cash or laundered through online coin-swapping services.
Authorities say Spektor's iPhone contained a treasure trove of incriminating evidence. This included Discord conversations where he allegedly boasted about making millions through scamming and using social engineering to get seed phrases. He also reportedly discussed losing six million dollars' worth of cryptocurrency through gambling.
Messages from November 2024 showed him discussing with his father how to conceal the financial proceeds of the Coinbase scheme. The complaint also alleges he asked his father to dispose of hardware wallets and requested his mother to buy a new one.
Charges, Defense, and Potential Sentence
Ronald Spektor currently faces charges of grand larceny and money laundering, along with accusations of possessing stolen property and the private information of his victims. If convicted, he could be sentenced to up to 25 years in prison.
He is being held at Rikers Island, with bail set at $500,000 cash. His attorney, Todd Spodek, told Business Insider that Spektor has pleaded not guilty. "We're working to secure his release early next week and will challenge the charges in court," Spodek said. He also noted his client had been aware of the Brooklyn prosecutors' Virtual Currency Unit investigation for over a year.
The complaint further reveals disturbing details from Spektor's online presence. His Telegram username was "@LOLIMFEELINGEVIL," and his account contained talks of successful Coinbase phishing attacks and efforts to recruit others. A linked Google account held approximately 29 text messages with the personal identifying information of tens of thousands of individuals.
This case highlights the sophisticated social engineering threats facing cryptocurrency users and underscores the importance of extreme caution with sensitive information like seed phrases.
