Crypto Trail Ends in Murder Convictions—Coinbase Traced the Killers

A brutal crime spree in NYC nightlife was brought to justice as blockchain sleuthing by Coinbase exposed killers, recovered funds, and redefined crypto’s role in law enforcement.

Coinbase Says ‘It Was One of the Most Difficult Cases We’ve Supported’

Paul Grewal, chief legal officer at crypto exchange Coinbase (Nasdaq: COIN), revealed on May 6 that the company’s blockchain forensics team played a critical role in a criminal investigation that led to multiple convictions in New York City. Speaking as part of Coinbase’s ongoing “Consumer Protection Tuesday” initiative, Grewal outlined how Coinbase collaborated with the New York Police Department’s Crimes Against Persons Division to help unravel a series of violent robberies, overdoses, and thefts tied to the city’s nightlife.

The case centered on a pattern of attacks where suspects targeted individuals—often from the LGBTQ+ community—outside bars and clubs in Manhattan’s 7th and 9th Precincts. Victims were drugged, their phones stolen, and financial and crypto accounts emptied using face ID or forced PIN entry. Grewal stated:

In some instances, victims were found dead from fentanyl-laced substances. In total, over $250,000 was stolen across multiple platforms, including Coinbase.

The criminal group quickly transferred funds through banking apps, peer-to-peer services, and crypto platforms. Tragically, several victims never recovered.

Coinbase’s rapid response and blockchain analysis proved instrumental in tracking the movement of stolen funds. Grewal emphasized: “Our blockchain analysis tied multiple wallets to the same crew, helped recover evidence across fiat and crypto rails, and supported convictions on 24 counts, including second‑degree murder. The case shows crypto isn’t the risk—it’s the trail of proof that put violent criminals behind bars.” The data supported the prosecution of Jayqwan Hamilton, Robert DeMaio, and Jacob Barroso, who were found guilty on 24 charges, including murder, robbery, and conspiracy. Two also faced burglary convictions.

Reflecting on the broader significance of the investigation, Grewal noted:

It was one of the most difficult cases we’ve supported. But it’s also one that underscores the power of blockchain to uncover truth, even when suspects go to great lengths to hide their tracks.

He also addressed the often-negative perception of crypto in law enforcement contexts: “This case was a reminder that crypto doesn’t exist in a vacuum. It intersects with the real world—in this case, a deeply tragic one. Our job at Coinbase is to ensure it’s part of the solution.”