🚔⚖️🔒 Indian National Sentenced to Five Years in Prison for $20 Million Cryptocurrency Fraud 🔒⚖️🚔

Chirag Tomar, a citizen of India, has been sentenced to five years in #prison for a fraud scheme that stole over 20 million by using fake websites that impersonated the cryptocurrency exchange #Coinbase

The scheme began in June 2021, creating a counterfeit site that mimicked Coinbase Pro, tricking users into entering their login credentials.

After accessing victims' accounts, the fraudsters transferred the #cryptocurrency to wallets under their control, moving funds across multiple addresses to evade detection.

Tomar used the stolen money to support a lavish lifestyle, including luxury watches and high-end cars.

Arrested on December 20, 2023, at Atlanta airport, he pleaded guilty to wire fraud conspiracy in May 2024.

He will serve 60 months in prison, followed by two years of supervised release.

The case was investigated by the United States Secret Service and the FBI.