Attorney General Letitia James announced a major crackdown on a sophisticated cryptocurrency investment scam that defrauded hundreds of Russian-speaking New Yorkers and cost victims over $1 million.
The investigation, conducted in collaboration with the Brooklyn District Attorney’s Office and the New York State Department of Financial Services (DFS), uncovered a Vietnam-based fraud ring that used deceptive Russian-language social media ads to lure individuals into fake crypto trading platforms.
“Hundreds of New York investors thought they were putting their hard-earned money in safe, high-return investments, only to be defrauded out of millions of dollars,” said Attorney General James. “My office… took action to stop these scammers and protect New Yorkers.”…