How a 23-Year-Old Stole $15M by Impersonating Coinbase Customer Service

The $15 Million Coinbase Customer Service Scam

A 23-year-old Brooklyn man has been charged with stealing $15 million by impersonating a Coinbase customer care representative. In a criminal complaint, Ronald Spektor is accused of tricking 100 victims from across the United States into turning over their cryptocurrency passwords.

A 23-year-old Brooklyn man has been charged with stealing $15 million by impersonating Coinbase customer service.

How the Scam Worked

The "long term larceny scheme" began in April 2023 and continued until his arrest on December 4, 2025. According to prosecutors, Spektor contacted victims by phone, pretending to be a legitimate Coinbase employee. He told them their assets were at risk and needed to be moved to a new wallet.

Believing they were communicating with a real employee, victims gave Spektor their seed phrases—the 12 to 24-word sequences that act like passwords for cryptocurrency accounts. They then moved their cryptocurrency to wallets that Spektor controlled, where it was immediately withdrawn without their permission.

The Investigation and Evidence

Some 70 victims have been interviewed by investigators with the NYPD and the Kings County District Attorney's Office. The complaint alleges that Spektor's scheme resulted in significant losses, including:

• A Coinbase user in California losing more than $6 million
• Another California user losing $1 million

Investigators traced more than $5 million in stolen funds to Spektor's accounts with two online gambling services. Millions more were converted into cash or laundered through online coin swapping services.

Digital Evidence Found

Spektor's iPhone contained a wealth of incriminating evidence, including:

• Discord conversations where he bragged about making millions through scamming
• Discussions about using social engineering to obtain Coinbase seed phrases
• Admissions of losing six million dollars worth of cryptocurrency through gambling
• Telegram messages under the handle "@LOLIMFEELINGEVIL" discussing successful Coinbase phishing attacks
• Communications with his father about concealing financial proceeds from the scheme
• A Google account containing 29 text messages with tens of thousands of individuals' email addresses and passwords

Legal Proceedings and Defense

Spektor faces top charges of grand larceny and money laundering, each carrying a maximum sentence of 25 years in prison. He is also charged with possessing stolen property and the personal information of his alleged victims.

Since his arrest, Spektor has been held in Rikers Island with bail set at $500,000 cash or $1 million bond.

His attorney, Todd Spodek, told Business Insider: "Mr. Spektor has pleaded not guilty. We're working to secure his release early next week and will challenge the charges in court. The allegations are speculative and based on incomplete information."

Spodek, who has represented other cryptocurrency cases including Instagram influencer Jay Manzini (sentenced to seven years) and Amir Bruno Elmaani (sentenced to four years), added: "Once the full picture comes out, this case will look very different."