A man impersonated a Coinbase employee to steal $16 million in cryptocurrency from about 100 users

According to Decrypt, the Brooklyn prosecutor stated that a 23-year-old resident has been charged with stealing $16 million worth of cryptocurrency from approximately 100 Coinbase users.

The man, who goes by the username "lolimfeelingevil," is alleged to have carried out phishing and social engineering scams. He impersonated a representative of Coinbase, tricking users into sending cryptocurrency to accounts he controlled by falsely claiming that the victims' digital assets were at risk of being stolen by hackers. He then used cryptocurrency mixers, exchange services, and cryptocurrency gambling sites to launder the money.