Scammers are lurking in the world of cryptocurrency!
New York authorities strike hard against fraud gangs, freezing $300,000 as part of a massive investment fraud scheme that used fake ads on social media!
How did the fraud occur? A complex operation targeting the Russian community!
• Major scandal: A joint investigation by the Brooklyn District Attorney's Office, the New York State Attorney General's Office, and the Department of Financial Services uncovers a wide-ranging fraudulent scheme!
• Victims: Targeting individuals in the Russian community in the state and nationwide.
• Huge losses: The scheme caused losses exceeding one million dollars from the Brooklyn area alone, with over 300 victims identified!
• Fraud Method: Scammers used cryptocurrency to pay for fake investment ads for digital assets on Facebook and other platforms, misled victims into believing they had obtained the required "BitLicense" in New York!
The iron grip of the authorities: Recovery and freezing of victims' funds!
Despite the scale of the losses, the authorities did not stand idly by!
• Recovery and Freezing: The investigation successfully recovered $140,000 and froze $300,000 of stolen funds!
• "Black Hat" on Facebook: Malicious ads in Russian were used on Facebook, and Meta (the parent company of Facebook) has stopped over 700 ads after learning about the investigation!
• Strong Warning: New York Attorney General Letitia James urges all New Yorkers to exercise extreme caution with online cryptocurrency investment ads!
Fraud in the crypto world: A growing phenomenon!
This scandal is just the tip of the iceberg!
• Shocking numbers: Chainalysis reported that the volume of illicit transactions related to digital assets reached around $51 billion in 2024!
• Artificial Intelligence in the service of scammers: There are growing concerns about the increasing use of AI to facilitate fraud!
• Notorious frauds: Among the infamous scams that used social media ads, there were fake distributions of XRP coins, impersonating the CEO of Ripple, Brad Garlinghouse himself!
The message is clear: Be extremely cautious in the world of cryptocurrency! Check everything! And do not fall victim to enticing ads!
#DAOBaseAIBinanceTGE #SparkBinanceHODLerAirdrop #BombieBinanceTGE
