Brooklyn District Attorney Eric Gonzalez has announced the takedown of 21 platforms associated with Ponzi-type schemes. The scam schemes are carried out by building a trusting relationship through dating apps or social media channels and then persuading victims to make crypto investments.
“Pig butchering” is a significant scam through which the nation is deprived of billions of dollars every year, according to Mr. Gonzalez. This effort would focus on disrupting the scammers’ online presence and educating the public at risk.
Civil servants were reminded to be vigilant against offers that seem too good to be true, and were advised not to download apps from unverified sources.
The New York City Police Department only received 50 reports of crypto-related scams last year, which is likely an undercount due to a lack of reporting knowledge.
Among the reported cases, it was revealed that Brooklyn residents had lost more than $4 million. A 51-year-old woman who had invested in a cryptocurrency platform lost around $22,680 after being lured into a chat room by scammers.
Another incident involved a woman who was scammed by the same dating site tactics. She revealed that she was easily duped and transferred $118,000 without hesitation.
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