The Rise (& Fall) of a $37 Million Crypto Spoofing Fraudster

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Chirag Tomar, a 30-year-old Indian national, was arrested at the Atlanta airport in December 2023 while visiting family on a travel visa. This arrest was the product of an extensive investigation into a cryptocurrency spoofing operation that Tomar had been the architect of, since roughly June 2021. The scheme, which involved creating a replicated version of the Coinbase Pro website, resulted in the theft of millions of dollars in cryptocurrency from hundreds of victims worldwide.

Tomar and his team designed a fake version of the Coinbase Pro website, which closely mimicked the legitimate site. The fraudulent site operated under a URL similar to the authentic one, making it difficult for users to distinguish between the two. To lure potential victims to the spoofed site, Tomar’s group employed various phishing techniques, including mass deceptive emails that appeared to be official communications from Coinbase. These emails directed users to click on links that led to the fake site, where they were prompted to enter their login credentials.

Once users accessed the spoofed website, they were asked to provide their login information, believing they were on the actual Coinbase Pro site. In some cases, the site also requested two-factor authentication codes, which added another layer of credibility to the deception. To further their scheme, the attackers impersonated Coinbase customer service representatives, convincing users over the phone to share their authentication details and 2 factor authentication codes of the authentic website.

This is the story of Chirag Tomar.

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Chapters:
0:00 - Introduction
0:28 - Mechanics of the Scheme
1:41 - How they caught him
2:19 - Tomar's Lifestyle
2:33 - North Carolina Victim, 240k stolen
3:00 - Tomar's Sentencing & Charges
3:50 - Law Enforcement Agencies
4:09 - Conclusion & Thank You

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