A 23-year-old man from New York, Ronald Spektor, is facing significant legal trouble after allegedly posing as a Coinbase employee to defraud cryptocurrency traders out of approximately $16 million. Prosecutors have reported that Spektor attempted to evade law enforcement by traveling across the United States on Greyhound buses while plotting an escape to Georgia. He is accused of sending about $600,000 in cryptocurrency to an individual in Georgia as part of his flight plan.
The case is being addressed by the Brooklyn District Attorney’s Office, which has charged Spektor with 31 counts, including first-degree grand larceny and first-degree money laundering. According to District Attorney Eric Gonzalez, Spektor deceived victims into sending their life savings to wallets he controlled. Instead of safeguarding these funds, he reportedly squandered millions on online gambling platforms, further complicating his situation.
Investigators from the District Attorney’s Virtual Currency Unit, who have been looking into the case for around a year, have spoken to over 70 alleged victims, all of whom are based in the U.S. During a recent hearing, prosecutors detailed how Spektor presented himself as a Coinbase representative to convince traders that their accounts had been compromised by a hacker. He urged them to transfer their assets to a “new wallet” for securing their funds. Believing they were communicating with an official, the victims unwittingly sent their cryptocurrency to a wallet accessible by Spektor.
After siphoning significant amounts of stolen cryptocurrency, he allegedly redirected large portions to online gambling services and various storefronts. The investigation has also expanded to include Spektor’s father, who is regarded as an active suspect due to his unexplained financial status.
This case isn’t isolated. Reports of similar schemes targeting cryptocurrency users have emerged internationally. In Russia, law enforcement recently apprehended a hacker in Krasnodar who stole over $20,000 from crypto traders by hijacking their email accounts. This hacker, working with an accomplice, used the details gathered from the accounts to discover passwords and seize funds. He also reportedly gambled away his share at an online casino.
As the dangers within the crypto trading space continue to evolve, the rise in gambling-related scams has heightened concerns about online safety for cryptocurrency investors. The legal proceedings against Spektor are set to reconvene on January 6, where further evidence will be presented regarding his fraudulent activities.
