Brooklyn man indicted in $16 million Coinbase cryptocurrency phishing scam case

The Brooklyn District Attorney’s Office said Friday (December 19) that a 23-year-old man from Brooklyn has been indicted for his alleged role in a Coinbase cryptocurrency scam that authorities say cost victims nearly $16 million. Prosecutors estimate that about 100 people across the country were affected.

Officials say the charges stem from an investigation by the office’s Virtual Currency Unit. According to investigators, the man allegedly posed as a customer service representative from Coinbase, reaching out to users and telling them their accounts had been compromised. He then allegedly instructed victims to move their cryptocurrency into new wallets he claimed were secure, but prosecutors say those wallets were actually under his control.

Brooklyn District Attorney Eric Gonzalez said in a statement, “This indictment charges the defendant of operating a long-running social engineering scam that amounted to a digital robbery against scores of crypto investors across the country. He allegedly tricked many unsuspecting people to transfer their life savings to wallets he controlled, blew their hard-earned money gambling online, and then bragged about his successful thefts.”

Brooklyn Man Charged with Stealing nearly $16 Million by Presenting Himself as Cryptocurrency Exchange Rep and Scamming Users

“My office is committed to making sure that Brooklyn never becomes a hub for online scams.”

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