Brooklyn Man Gets 4-12 Years for $15.9M Fake Coinbase Scheme
- —Convicted on 31 counts including money laundering and grand larceny
- —Victims lost $15.94 million, some more than $1 million each
- —Prosecutors sought 7-21 years; plea deal yielded 4-12
- —Ordered to forfeit $500K+ in assets and pay nearly $16M restitution
Why it matters: The case shows social engineering, not code exploits, remains the top threat to holders: a wallet you did not create yourself is not one you control.
Source: HackerNoon (crypto tag)