The Brooklyn District Attorney’s office has neutralized a global cryptocurrency investment fraud network. The operation, led by the Virtual Currency Unit, resulted in the shutdown of 241 fraudulent domains and the seizure of 112 cloud servers located in the United States and Eastern Europe.
The three-year investigation, conducted in collaboration with the FBI’s New York field office, revealed that the network caused losses totaling tens of millions of dollars across the United States. Within the Russian-speaking community of Brooklyn alone, confirmed losses reached millions of dollars.
The scammers utilized social media advertisements to lure victims to fake investment platforms. Once on these sites, victims were contacted by individuals posing as advisors who pressured them to purchase and transfer digital assets.
No arrests have been made, and no suspects have been identified in connection with this operation. The authorities noted that while the infrastructure takedown disrupts the current network, the perpetrators could potentially attempt to resume activities using new domains.
