According to TechFlow, on October 18, the United States Federal Court for the Western District of North Carolina sentenced Indian citizen Chirag Tomar (31 years old) to five years in prison and two years of probation for committing a cryptocurrency fraud of more than $20 million by forging the Coinbase exchange website.

U.S. prosecutors said that since June 2021, Tomar and his accomplices have defrauded hundreds of victims around the world by impersonating the Coinbase Pro website (using similar domain names such as CoinbasePro.Com). The fraud gang stole user login credentials through phishing websites, or impersonated customer service to trick users into providing two-factor authentication codes, thereby illegally accessing victims' real Coinbase accounts and transferring cryptocurrencies.

In February 2022, a victim in the Western District of North Carolina was defrauded of more than $240,000 in cryptocurrency when logging in through a fake website. Tomar converted the stolen cryptocurrency into cash and used it to purchase luxury watches, luxury cars, and lavish travel.

Tomar was arrested on December 20, 2023, at the Atlanta airport upon entry and pleaded guilty on May 20, 2024.