CoinVoice has recently learned that, according to The Block, New York City officials announced the dismantling of a cryptocurrency scam targeting Russian-speaking residents. The scammers used Facebook black hat advertising to lead victims to the fake cryptocurrency investment website WhalesTrade.com, and then lured them into additional investments through chat on WhatsApp and Telegram.

Law enforcement has seized $140,000 in cryptocurrency assets, frozen approximately $300,000 in funds, and shut down over 700 associated Meta ad accounts. Currently, more than 300 victims have been confirmed, with the amount involved exceeding $1 million. [Original link]