"Deceiving New Yorkers looking to take on remote work and earn money to support their families is cruel and unacceptable," said Attorney General James. "My office has frozen millions in stolen cryptocurrency, and we will fight to return it to victims while holding these scammers accountable."
Scammers exploited registered platforms like Coinbase and Crypto.com to lure victims into buying stablecoins such as USDC and USDT. They then instructed victims to transfer their funds to unhosted wallets, bypassing safeguards and making the stolen assets harder to trace.
In one case, a New York resident lost more than $100,000 after being promised a registration bonus and high commissions during a supposed training period. The victim was directed to set up a cryptocurrency wallet and transfer funds to conduct 'product reviews,' which turned out to be a ruse.
For the first time, the lawsuit will serve notice to scammers via a nonfungible token (NFT), embedding the litigation details in the scammers' wallets.
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