The operator of a bogus website impersonating cryptocurrency exchange Coinbase, leading to a $20 million theft, was found guilty and condemned to 60 months in jail. Since June 2021, the fraudster is accused of running a false Coinbase website and randomly targeting investors with emails urging them to contribute funds. The stolen cash was spent on high-end sports cars, including a Lamborghini, a Porsche, and an expensive watch.
