cryptoscam

A 46-year-old woman from the western Russian city of Kursk has fallen victim to a large-scale cryptocurrency investment scam, losing 28 million rubles over the course of one year. The case was disclosed on Monday by Russia’s Ministry of Internal Affairs.
According to police, the woman was initially contacted via a messaging application by a man who claimed to be living in an Arab country. The scammer presented himself as an experienced cryptocurrency investor and gradually gained her trust by portraying detailed knowledge of crypto markets.
He told the victim she could earn significant profits by following his instructions, which began with downloading a specific mobile application allegedly used for crypto investing.

Scam Built Over a Year Using the “Pig Butchering” Method
Russian investigators said the case followed a classic “pig butchering” scheme—a long-term fraud technique in which perpetrators build trust with victims over time and gradually persuade them to invest increasingly large sums.
The scammer promised high and stable returns, guided the woman step by step through the supposed investment process, and encouraged repeated transfers of funds in cryptocurrencies. Investigators said it took roughly one year for the perpetrator to fully execute the scheme.
As the fraud progressed, the victim exhausted her personal savings and, believing that higher investments would lead to even greater profits, sought additional funding.
“She sold three apartments, a car, a gold bar, took out bank loans, and borrowed money from acquaintances to raise more funds, convinced that future returns would offset the losses,” authorities said.
Once the woman ran out of money, the scammer deleted all communication records and cut off contact entirely, prompting her to report the incident to the police.

Crypto “Pig Butchering” Scams Continue Across Russia
Russia’s Interior Ministry said it is investigating several similar cases reported in other regions of the country.
In the Kirov region, a woman lost more than 2 million rubles after trusting investment promises from fake cryptocurrency exchanges. Like the victim in Kursk, she believed her funds were generating steady returns, only to later discover that both the platforms and contacts were fraudulent.
Another case involved a 63-year-old man from the city of Kirov, who lost approximately 3 million rubles in late July after communicating with scammers via a messenger app. The fraudster posed as a financial adviser offering an “easy and profitable way to make money through cryptocurrency trading” in exchange for a 20% share of the profits.
The man agreed, registered on a fake trading platform, and transferred funds to accounts provided by the unknown contact. Police said he invested his own savings and later added borrowed money, bringing the total amount transferred to 2,981,000 rubles.

Similar Scams Reported in Belarus
Comparable schemes have also been reported in Belarus. A 23-year-old woman from Minsk contacted the Soviet District police after realizing she was unable to withdraw the money she believed she had earned.
According to her statement, she encountered an advertisement on a social media platform and left her phone number after clicking on a link. She was subsequently contacted by someone claiming to be an analyst from an investment platform.
The woman registered on a specialized website and, over two months, transferred approximately 50,000 rubles to an electronic wallet. When she attempted to withdraw her funds, the fake analyst demanded additional deposits, prompting her to suspect fraud and contact the authorities.

#Cryptoscam , #CryptoFraud , #russia , #cybercrime , #CryptoNews

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The recent launch and collapse of the NYC Token ($NYC) has drawn significant attention across crypto circles. Watching the events unfold, it was striking to see a token reach a $730 million market cap only to plummet 80 percent in less than 30 minutes. The rapid reversal highlights the risks associated with celebrity-backed launches and the volatility that can arise when liquidity is concentrated.
On-chain data has revealed that $NYC faced extreme centralization, with the top ten holders controlling nearly the entire circulating supply. A $3.5 million liquidity removal shortly after launch has triggered widespread accusations of a rug pull. The team behind the project described the event as a “rebalancing,” yet parts of the drained liquidity remain unaccounted for. Observing these developments emphasizes how quickly market trust can be shaken when transparency and decentralization are lacking.
Despite the dramatic $NYC crash, Bitcoin (BTC) has remained resilient. The asset continues to attract institutional flows, with spot ETFs recording net inflows of $116.7 million. Whale positions suggest strong conviction among larger holders, reflecting broader market confidence in established decentralized assets even amid isolated controversies. This contrast between stable, high-cap networks and newly launched tokens underscores the importance of understanding structural risk and the role of liquidity in market stability.
Regulatory responses are beginning to catch up with these events. In New York, the 2025-A6515A bill now criminalizes rug pulls and requires developer transparency. The incident serves as an early case study in how regulatory oversight may interact with celebrity or high-profile projects, highlighting both accountability and the need for due diligence by participants. Community reactions have been mixed, with some calling for stronger oversight and others reflecting on the lessons of speculative enthusiasm.
Overall, the $NYC episode demonstrates how quickly hype-driven markets can unravel when concentrated supply, opaque liquidity, and high-profile promotion converge. While new projects will continue to attract attention, participants are reminded to consider both transparency and network fundamentals. Bitcoin’s stability in contrast offers a measure of reassurance, illustrating that mature, decentralized ecosystems can continue to function amid isolated shocks.
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#NYCToken #Cryptoscam #NewYorkMayor #Rugpull #CryptoNews

U.S. federal authorities are investigating another cryptocurrency fraud case involving a fake romantic relationship, this time seeking to seize digital assets worth approximately $200,000. According to prosecutors, the funds are linked to a carefully orchestrated online investment scam.
The U.S. Attorney’s Office in Massachusetts confirmed that on January 12, 2026, it filed a forfeiture complaint targeting 200,039.646 USDT, which investigators say was obtained through manipulation on an online dating platform. The case is part of a broader wave of so-called romance-investment scams, which have surged in recent years.

How the Scheme Worked: Trust First, Money Later
The investigation began in April last year, when federal agents started probing a case involving a Massachusetts resident who became the target of a sophisticated online fraud. According to the Department of Justice, the operation followed the well-known “pig-butchering” model — a scheme in which scammers slowly build trust before exploiting victims financially.
The victim was initially contacted on the dating app Tinder by an individual using the name “Nino Martin.” After establishing rapport, the conversation was moved to WhatsApp, where the scammer claimed to be a professional financial advisor. Over time, the victim was persuaded that they could profit from cryptocurrency trading.
Following the scammer’s instructions, the victim opened an account on what later turned out to be a completely fraudulent trading platform. Early on, the site displayed convincing “profits,” reinforcing the illusion of legitimacy. However, when the victim attempted to withdraw funds, banks flagged the activity and froze several accounts due to suspicious transactions.

Bypassing Safeguards and Losing Over Half a Million Dollars
After the bank intervention, individuals linked to the fake platform contacted the victim again, providing detailed instructions on how to bypass security measures and continue transferring funds. Before law enforcement or federal authorities were notified, the victim had sent approximately $504,353 to the alleged scammers.

Blockchain Tracing and Asset Seizure Efforts
Federal investigators were later able to trace a portion of the stolen funds to a specific cryptocurrency wallet. In June 2025, authorities took control of that wallet. The latest court filing outlines the legal process for handling any competing claims to the assets.
If no party can demonstrate a legitimate right to the funds, the cryptocurrency will become government property and may ultimately be returned to the victim.

Part of a Broader Crackdown on Crypto Fraud
Prosecutors emphasized that this is not an isolated case. In recent months, federal authorities have filed multiple forfeiture actions aimed at recovering cryptocurrency tied to investment and romance scams affecting residents of Massachusetts.
U.S. law prohibits using electronic communications to defraud individuals or obtain property through false representations, as well as conducting financial transactions intended to conceal the origins of criminal proceeds.
The case involves the U.S. Attorney’s Office, the Boston field office of the FBI, and a specialized asset-recovery unit. Law enforcement officials are urging anyone who believes they may have been targeted by investment scams, romance scams, or business email compromise schemes to come forward, as early reporting significantly improves the chances of fund recovery.
As with all civil forfeiture cases, the allegations outlined in court documents are claims only. All individuals involved are presumed innocent unless and until proven guilty in a court of law.

#Cryptoscam , #CryptoFraud , #USDT , #CryptoCrime , #CryptoNews

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“