Brooklyn Man Sentenced to Up to 12 Years for $16 Million Coinbase Social Engineering Scheme

WHY IT MATTERS

Social engineering is like a con artist pretending to be your bank on the phone and convincing you to hand over your account details. In the crypto world, this is especially dangerous because cryptocurrency transactions usually cannot be reversed — once someone sends your crypto to their own wallet, it is essentially gone. This case shows that law enforcement is actively prosecuting crypto fraud, but it also serves as a reminder that the biggest security risk is often not a software bug but a convincing scammer. If you ever receive a call, email, or message claiming to be from a crypto exchange asking for your password or security codes, that is almost certainly a scam. Legitimate companies do not ask for this information.