Serebrovsky was arrested on September 23, 1937, and on February 8, 1938, was convicted of “counter revolutionary activities” by the Military Collegium of the USSR Supreme Court. He was shot on February 10, 1938, at age 53. According to Stalin's own report, Serebrovsky was a "vicious enemy of the people" who had delivered no less than 50m gold bars to Leon Trotsky.
