Officials from Recent York reported an investigation, as a result of which $ 140,000 was recovered and freezing USD 300,000 stolen funds as part of the investment fraud of cryptocurrency using false ads on social media.
In Wednesday’s notification, authorities from the office of the District Prosecutor in Brooklyn, the office of the Prosecutor of Recent York and the Department of Financial Services of the State of Recent York he said They disrupted the fraud plan of members of the Russian community in the state and in the whole country.
According to officials, the fraudsters used the cryptocurrency to pay for false investment advertising of digital assets on Facebook and other platforms, which led to a occupation of USD 140,000 and freezing crypto worth USD 300,000.
“These fraudsters attacked Russian Facebook speakers with tempting advertisements and my office together with DFS and the office of the District Prosecutor in Brooklyn, took action to stop these cheaters and protect New Yorkers,” said Prosecutor General General Ny Letitia James. “I call on all New Yorkers for the vigilance of online investment ads.”
https://www.youtube.com/watch?v=T06MVWZ6NGM
Although the investigation led to the recovery or freezing of over USD 440,000 stolen funds, the authorities reported that the program caused losses of over $ 1 million from the very Brooklyn area, with more than 300 victims identified.
Fraudsters allegedly used a phony cryptographic website, which claims to secure Bitlicense, a license required by cryptographic companies offering Recent York services.
Related: The second largest city of Washington, Spokane, Bans Crypto ATMS
Many malicious ads in social media, referred to as the advertisements of the “black hat”, were in Russian and above all on Facebook. Meta, Facebook’s parent company, apparently closed over 700 ads after learning to investigate.
Cryptography users are still susceptible to fraud
Chainalysis announced that in 2024 in 2024 there were about $ 51 billion in an illegal number of transactions. Although payments related to ransomware attacks have fallen by 35%, there are concerns about the growing utilize of artificial intelligence to facilitate fraud.
Among other infamous frauds that used ads on social media for false cryptocurrency investments, they included phony Airdrops XRP impersonating Brad Garlinghouse. In addition to being an essential figure in the cryptographic industry, CEO drew attention to the legal entanglement of Ripple with the American Securities and Stock Exchange Commission.
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