The 23-year-old Brooklyn man pleaded guilty on Sept. 2 to 31 counts, including first-degree money laundering and grand larceny. He defrauded approximately 100 Coinbase users by posing as exchange representatives, convincing them to transfer assets to supposedly secure wallets or surrender seed phrases. Coinbase was not at fault as the scheme did not involve infrastructure vulnerabilities. Spektor was also ordered to forfeit over $500,000 in assets and pay restitution.