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Home CRYPTO

Crypto Job Scam Unveiled: $2.2M Lost, NY Attorney General Fights Back

Matoy by Matoy
January 12, 2025
in CRYPTO
Reading Time: 2 mins read
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  • Scammers posed as employers, tricking victims into buying crypto with false promises.
  • Victims were told their funds were needed for “legitimizing” data but were never returned.
  • The NY Attorney General, with Secret Service help, froze stolen crypto assets to recover losses.

New York Attorney General Letitia James is taking legal action to recover over $2.2 million in cryptocurrency stolen from unsuspecting victims. The scheme preyed on individuals looking for remote work opportunities, luring them with fake promises of flexible, high-paying jobs.

According to James, scammers targeted victims through text messages, convincing them to buy crypto under the guise of participating in job-related activities. The victims were instructed to create crypto accounts, deposit funds, and “review products” on fake websites that mimicked legitimate brands.

A Web of Deception: How the Scam Worked

Once victims were hooked, scammers ramped up the pressure. Victims were told to maintain a crypto balance equal to or greater than the value of the products they were supposedly reviewing. They were reassured they weren’t actually purchasing anything—just helping “legitimize” product data.

To sweeten the deal, scammers promised the victims they’d get their money back, along with a commission. But, as you might guess, no one saw a single cent.

The fraudsters operated through an elaborate network, reaching victims via direct text messages. The scam was polished enough to seem credible, but it left countless individuals in financial ruin.

New York Government

Crypto Recovered, But Caution Remains Key

Thankfully, with the help of the U.S. Secret Service, Attorney General James announced that the stolen cryptocurrency has been frozen, offering hope of partial recovery for the victims. However, James emphasized the importance of staying vigilant.

Final Thoughts

This scam serves as a stark reminder of the lengths fraudsters will go to exploit unsuspecting individuals in the digital age. If a job offer seems too good to be true—especially one involving cryptocurrency—take a moment to verify its legitimacy. Trust your instincts, and don’t let slick promises lead to financial losses.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: Crypto Scam
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Matoy

Matoy

If Matoy is not busy looking at the latest Web3 news, he's always in the kitchen cooking delicious meals for his family. He's also a competitive fighting game player and a car enthusiast

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