Crypto Scam: Text Messages Trick People into Losing Millions

Imagine receiving a text message promising a great remote job with high pay. Sounds too good to be true, right? That's because it was. Scammers tricked people into opening cryptocurrency accounts and maintaining specific balances, all while promising hefty commissions for online product reviews. Unfortunately, the commissions never came, and the scammers disappeared with over $2. 2 million in cryptocurrency. The New York Attorney General's office is suing to get the money back and stop these scams.

In January to June last year, scammers used fake company names like Digistore24 and FeraAI to lure victims. They promised commissions based on phoney product reviews and even created fake websites to show earnings. Victims were pushed to their financial limits, borrowing money from friends and family to keep up with the scammers' demands. One Queens teacher lost nearly $120, 000, while a Florida woman deposited over $300, 000 in just 20 days. The scammers used a range of tricks, like asking for more money to withdraw supposed earnings or offering to negotiate a lower debt. The Attorney General, Letitia James, is fighting back. Her office, alongside the Queens District Attorney and the US Secret Service, has identified crypto wallets with stolen funds reaching nearly $2. 2 million. They've frozen these accounts and are seeking a court order to return the stolen money and stop the scammers from sending unsolicited text messages in New York. If you think you've been involved in a text message scam, you can reach out to the Attorney General's office.

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