New York has cracked a Facebook Crypto Assets scam case targeting Russian-speaking residents.
According to ChainCatcher news reported by The Block, New York City officials announced the dismantling of a cryptocurrency scam targeting Russian-speaking residents. The scammers lured victims into a fake cryptocurrency investment website WhalesTrade.com through Facebook black hat ads and then induced them to make additional investments via WhatsApp and Telegram chats.
Law enforcement agencies have seized $140,000 in encryption assets, frozen about $300,000 in funds, and closed over 700 associated Meta ad accounts. Currently, more than 300 victims have been confirmed, with the amount involved exceeding $1 million.