Doug Newton, an 86-year-old artist, fell victim to a cryptocurrency scam after being lured into selling his work as an NFT, leading to a loss of $120,000.
Alona Katz from the Brooklyn DA's Virtual Currency Unit stated that the tactic used against victims like Newton is common, often starting with small fees to create trust.
Brooklyn District Attorney Eric Gonzalez highlighted that 60% of New York's crypto-related complaints come from Brooklyn, predicting losses could reach $40 million in 2024.
Katz urges potential victims of cryptocurrency scams to conduct thorough research, warning against trusting seemingly reputable sites for investment opportunities.
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