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Monday, June 17, 2024
HomeSecurityBrooklyn DA's Office Cracks Down on Crypto Scam Targeting Russian Community

Brooklyn DA’s Office Cracks Down on Crypto Scam Targeting Russian Community

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The Brooklyn District Attorney’s Office has made a significant move in the fight against cryptocurrency scams, seizing 70 domains used to scam members of the Russian community out of millions of dollars.

The scam, which targeted over 20 Brooklyn residents and additional victims nationwide, involved deceptive Facebook ads featuring a deepfake of Tesla CEO Elon Musk. Victims were lured into making bogus investments by responding to the ads and then receiving a call from a purported investment advisor who spoke in Russian and guided them into making cryptocurrency transactions on fraudulent websites.

According to the Brooklyn DA’s Office, the victims lost a total of $5 million, with over $1 million lost by Brooklyn residents and an additional $4 million lost by victims across the United States.

The scam, which originated from Russia, used the language barrier to its advantage, with scammers speaking in Russian to build trust with their victims. However, the Brooklyn DA’s Office has taken control of the fake websites, disrupting the scam and making it more difficult for the scammers to operate.

The DA’s Office’s Virtual Currency Unit worked closely with law enforcement agencies to identify the scam and take down the fraudulent websites. The move is seen as a significant victory in the fight against cryptocurrency fraud and a major blow to the scammers.

“This scam was a sophisticated operation that targeted vulnerable individuals and stole their hard-earned money,” said the Brooklyn DA’s Office in a statement. “We are committed to protecting our communities from these types of scams and will continue to work tirelessly to bring perpetrators to justice.”

The seizure of the domains is a significant step in the fight against cryptocurrency fraud and a major victory for the Brooklyn DA’s Office. It serves as a warning to scammers that law enforcement is committed to taking down fraudulent operations and protecting the public from financial harm.

Source: Bitcoin.com

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