New York, U.S. – A team of tech-savvy scam artists stole millions in a nation-wide cryptocurrency con that duped unsuspecting victims, including some in New York, searching for remote work into transferring money in the fraudsters’ digital wallets, New York Attorney General Letitia James announced Thursday.
The network of scammers cold-texted their victims, duping them into thinking they could earn money from working from home, only to steal their funds in the form of cryptocurrency — a type of digital money that can be harder to trace than traditional cash. Victims received the messages from phony recruiters at various fake companies claiming they could make money by reviewing products online for legitimate brands, according to James.
In order to partake in the remote opportunity, new hires would have to open a cryptocurrency account, buy “stablecoins” — a type of digital currency — and deposit them into a digital wallet controlled by the scammers.
The scammers promised the victims they would get their initial investment back, plus a commission, once they started working. They were told to purchase stablecoins through well-known cryptocurrency platforms, like Coinbase or Crypto.com, and send them to unregistered digital wallets. But instead of making money, the victims’ cryptocurrency was siphoned off into the con artists’ wallets.
One New Yorker bamboozled in the scheme lost more than $100,000 thinking they were setting up a legitimate online job with “numerous benefits and flexible requirements,” according to the New York attorney general’s office. With the promise of remote work and high commissions, a scammer posing as a trainer led the victim to a fake website and convinced them to buy stablecoins, which were ultimately stolen by the scammers.
“Deceiving New Yorkers looking to take on remote work and earn money to support their families is cruel and unacceptable,” James said in a statement. “The cryptocurrency that has been frozen thanks to my office will be available to help New Yorkers defrauded by this scam.”
James urged New Yorkers to be wary of unsolicited text messages from unknown senders and to report any suspected scams to the New York State attorney general’s office.
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