Brooklyn Man Sentenced to Up to 12 Years in $15.9M Coinbase Phishing Scheme

This sentence lands as a criminal-justice outcome rather than a market event, but its signal is operational: the loss came from social engineering of customer accounts, not from a protocol or exchange breach, so the exposure sits with individual users and the platforms whose support channels are impersonated. For the RWA sector, where tokenized assets increasingly sit behind the same custody and exchange interfaces, the case reinforces that identity and account-recovery layers remain the practical weak point. Whether such schemes keep drawing long custodial sentences is the open question.