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BTCC / BTCC Square / Global Cryptocurrency /
New York Authorities Seize $440K in Crypto Scam Targeting Russian-Speaking Community

New York Authorities Seize $440K in Crypto Scam Targeting Russian-Speaking Community

Author:
Global Cryptocurrency
Published:
2025-06-19 14:19:02
7
2

New York law enforcement has confiscated over $440,000 in stolen cryptocurrency linked to a sophisticated scam targeting Russian-speaking investors through Facebook ads. The operation, which caused over $1 million in losses in Brooklyn alone, involved fake trading platforms promoted via manipulated social media campaigns.

Brooklyn District Attorney Eric Gonzalez, alongside New York State Attorney General Letitia James and DFS Superintendent Adrienne Harris, announced the seizure on June 18. The scam exploited Russian-language Facebook ads to lure victims into fraudulent crypto investments, with a significant portion of the operation traced to Vietnamese-based intermediaries.

|Square

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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