New York cracks down on a Facebook cryptocurrency scam targeting Russian-speaking residents

2025-06-19 00:58:29

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ChainCatcher news, according to The Block, New York City officials announced the bust of a cryptocurrency scam targeting Russian-speaking residents. The scammers led victims to a fake cryptocurrency investment website WhalesTrade.com through Facebook black hat ads, and then lured them into additional investments via WhatsApp and Telegram chats.

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.

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Cryptocurrency Fraud Case Record

This topic will track and collect various scams and fraud cases in the cryptocurrency field. We will regularly update the latest information on virtual asset investment fraud, fraudulent activities, and other criminal activities, revealing scam techniques and methods of evading detection, helping investors identify risks and protect their interests.

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