Crypto Scam Involving Fake Coinbase Website
An Indian national, Chirag Tomar, has been sentenced to 60 months in prison for orchestrating a $20 million cryptocurrency fraud. Tomar created a fake website resembling Coinbase Pro, tricking victims into providing their login credentials and two-factor authentication codes. The stolen funds were used to finance a lavish lifestyle, including luxury watches, cars, and trips to Dubai and Thailand.Victims Lose Over $20 Million
Tomar and his co-conspirators deceived victims by mimicking the official Coinbase Pro website. Once they had access to the victims’ accounts, they transferred the funds to wallets under their control. The scam targeted individuals worldwide, with a North Carolina victim losing over $240,000 alone. The funds were laundered through multiple cryptocurrency addresses and eventually cashed out.Arrest and Sentencing
Tomar was arrested in December 2023 at Hartsfield-Jackson Atlanta International Airport and later pled guilty to wire fraud conspiracy. After serving his sentence, he will face two years of supervised release. The U.S. Secret Service and FBI were instrumental in investigating the case, helping bring the scam to light.
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