PANews, October 18: According to CryptoBriefing, the Virtual Currency Unit (VCU), led by Assistant District Attorney Alona Katz of the Brooklyn District Attorney’s Office, in collaboration with the FBI’s New York office, conducted a joint operation seizing or shutting down 241 fraudulent domains and 112 servers. This October operation marks the culmination of a three-year investigation into an international cryptocurrency investment scam network. The network primarily targeted Russian-speaking communities, luring victims to fake crypto investment platforms through Russian-language ads on Facebook, then perpetrating a secondary scam under the guise of “recovering funds.” Investigators estimate total losses in the tens of millions of dollars, with some victims losing their entire life savings.
Brooklyn Prosecutors and FBI Seize 241 Crypto Scam Domains
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Summary
Brooklyn prosecutors and the FBI have shut down 241 scam domains and 112 servers linked to a three-year crypto fraud targeting Russian-speaking users. The scheme used Facebook ads to direct victims to fake platforms, then deceived them again under the pretense of fund recovery. Losses are estimated in the tens of millions. The crackdown coincides with the Fear & Greed Index showing increased caution among traders. Investors are advised to monitor altcoins closely amid rising scam activity.
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