New York Uncovers Major Crypto Fraud Targeting Russians

New York City’s Attorney General, Letitia James, announced a significant crypto scam bust, targeting a network that defrauded numerous victims in Brooklyn and other locations. Despite the criminals’ efforts to conceal their operations, police made crucial seizures and halted their misleading social media campaigns.

New York Attorney General Letitia James revealed a crackdown on a social media-based crypto fraud ring. Authorities didn’t name the total losses, but $1 million was taken from Brooklyn residents alone. DFS, in partnership with the Brooklyn DA’s Office and the Office of the Attorney General, has successfully concluded an investigation into a crypto scam network that took over $1 million from victims in Brooklyn alone. The court order only names three members but states there are ‘unnamed others’ involved. Last year, AG James vowed to crack down on crypto wrongdoers, and this social media rip-off ring certainly qualifies.

Sam Boolman | Crypto Enthusiast and Writer

Sam Boolman is a contributing writer at ChainIntel.org with a long-standing interest in cryptocurrency, blockchain technology, and emerging financial trends. A self-directed trader who actively invests his own capital, Sam follows the markets closely and brings a hands-on perspective to the fast-paced world of crypto journalism. With a background in business and digital media, Sam has written across a variety of sectors including tech, startups, and online finance. His curiosity and enthusiasm for the evolving digital economy fuel his exploration of Web3, decentralised finance, and market developments. Sam is passionate about making complex topics more accessible to everyday readers and continues to expand his knowledge through research, trading experience, and industry engagement.

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