Brooklyn man gets 12 years for $16M Coinbase phishing scam

A Brooklyn man has been sentenced to 12 years in prison for running a phishing scheme that stole $16 million, according to court records. The fraudster scammed about 100 people across the United States by convincing them their accounts had been hacked and instructing them to transfer funds to him.

The case highlights the persistent threat of social-engineering attacks targeting crypto users through fake account-security warnings. No details were disclosed on the specific phishing methods, the platforms beyond Coinbase cited in the scheme, or whether restitution was ordered.