An Indian national pleaded guilty this week to U. S. authorities to creating a fake edition of Coinbase’s website, allowing him to borrow login credentials from genuine ones and borrow more than $9. 5 million worth of cryptocurrency from many victims.
Chirag Tomar, 30, was arrested at the Atlanta airport on Dec. 20, 2023, while visiting family on a visa. He was charged with one count of conspiracy to commit wire fraud and one count of conspiracy to commit money laundering. He faces a maximum penalty of 20 years in prison.
Tomar’s case was first reported through Seamus Hughes of CourtWatch.
According to court documents filed in the Western District of North Carolina, Tomar and his co-conspirators created a fake edition of the Coinbase Pro online page to trick Coinbase consumers into revealing their login information. Between at least June 2021 and Tomar’s arrest in the past. In 2023, at least 542 victims were scammed with their crypto.
Between June 2021 and October 2022, Tomar searched for “fake Coinbase page,” “Coinbase scam,” “scams in the United States,” and “how to withdraw cash from Coinbase without OTP. “
Tomar used the same email address to apply for his U. S. visa.
With the proceeds of his fraud, Tomar financed a lavish lifestyle, buying Rolex and Audemars Piguet watches, “high-end luxury cars like Lamborghinis and Porches,” and traveling to London, Dubai, and Thailand.
Tomar has not yet been convicted.
This story originally appeared on Coindesk