News · CoinDesk

How Brooklyn prosecutors and the FBI took down a massive crypto fraud network targeting Russian speakers

Brooklyn prosecutors and the FBI seized or disrupted 241 scam websites and 112 servers tied to a crypto investment fraud that targeted Russian speakers in the US. The scheme allegedly stole tens of millions of dollars through Russian-language Facebook ads and fake advisers, who pushed victims to buy crypto and send it to fake trading platforms. A few weeks later, the scammers returned with false offers to recover the lost money. Investigators targeted the servers because 400 earlier-seized domains had been quickly replaced; no arrests were announced, and about $300,000 has been seized so far. Crypto scams accounted for roughly 84% of the $8.65 billion in investment-fraud losses reported to the FBI in 2025.

Summary written by Upside AI from the original article. Read the source for full details.

Read the original on CoinDesk ↗

Related news

  • Brooklyn Prosecutors Take Down 112 Servers Behind Crypto Scam Targeting Russian Speakers

    Brooklyn prosecutors, working with the FBI, disrupted 112 servers and seized or disrupted 241 web domains used in a crypto investment scam that targeted Russian-speaking Americans through Facebook ads. Prosecutors estimate the scheme stole tens of millions of dollars, some of it victims' entire life savings, after scammers posing as “investment advisors” coached victims into buying crypto and sending it to platform addresses. The scammers also ran a recovery scam, promising to return stolen funds. The unit had been investigating for three years and had already taken down 400 linked domains before this operation. About $300,000 has been seized so far, and the office is working to recover more.

    Decrypt·
  • US authorities dismantle crypto scam network that stole tens of millions

    Brooklyn prosecutors and the FBI disrupted an Eastern European cryptocurrency scam network accused of stealing tens of millions of dollars from Americans, mainly Russian speakers. The operation, carried out last week and announced Wednesday, shut down 241 websites and seized 112 servers hosted in Eastern Europe and the United States, and no arrests were made. Prosecutors said seizing the servers disabled the network's ability to create new websites and contact victims, and that the scammers had also tried to exploit victims again with false promises to recover their money. The article cites FBI figures showing Americans reported $11.4 billion in crypto fraud losses in 2025, up 22% from the previous year.

    Cointelegraph·
  • Why Is Crypto Down Today ? Nearly $1 Billion in Leveraged Positions Just Got Wiped Out .

    Nearly $1 billion in leveraged crypto positions were liquidated as Bitcoin, Ethereum, XRP and most of the 26 largest cryptocurrencies tracked fell sharply. Bitcoin dropped 3.2% to $80,957, Ethereum fell 5.8%, Solana 4.9%, and total market capitalization fell 5.5%, with smaller coins such as Zcash down 12.6%. The article links the forced selling, a liquidation cascade, to broader pressures including an 8% drop in South Korea's KOSPI, U.S. inflation at 3.7%, and net outflows of $261.46 million from spot Bitcoin funds on October 14. Bitcoin is hovering near the $80,000–$81,000 support zone, and the article flags the 50-week moving average at $76,618 as the next level to watch if prices fall further.

    247wallst.com·▼ BTC/USDT▼ ETH/USDT▼ SOL/USDT▼ XRP/USDT
  • White House crypto council chief Patrick Witt steps down

    Patrick Witt, executive director of the White House Crypto Council, is leaving his role for a new opportunity in the private sector, according to his Thursday X post. His exit leaves a leadership gap, as he was the last remaining staffer after David Sacks departed in March and deputy director Harry Jung in July. The Senate failed to pass a cloture motion on the Digital Asset Market Clarity Act in September, and further progress this session is unlikely. The council's former executive director, Bo Hines, left in August 2025 and later joined stablecoin issuer Tether as a strategic adviser. Cointelegraph has asked the White House whether a replacement is planned and will update when it responds.

    Cointelegraph·• BTC/USDT
  • Binance to shut down crypto mining pool services in November

    Binance will discontinue Binance Pool and related services on Nov. 10, ending an operation that has run for over six years since its April 2020 launch. Affected products include Pool Savings, Cloud Mining, Transaction Accelerator and mining pool APIs, and they will stop generating rewards after the cutoff. Miners are urged to move their computing power to other pools, and users have until Nov. 24 to access historical mining records and payout information. Binance attributed the decision to an ongoing product review but did not give a specific reason.

    Cointelegraph·

Related markets

Crypto →

Latest news

  • Roblox Is Now Down 38% in 2026: Is RBLX Stock Dead Money or Poised for a Comeback?

    Roblox stock is down 38% year to date to $50.41, with a late-September court ruling letting a Los Angeles County child exploitation lawsuit proceed and a Jefferies downgrade to Underperform adding pressure. Jefferies argued the rally after the Q2 report priced in too much bookings growth, which rose only 8% to $1.6 billion in Q2 even as daily active users grew 10% to 123 million. Safety changes, including a mandatory age check, had already led Roblox to cut its full-year revenue growth forecast to 20% to 25% earlier this year. For Q3 2026, Roblox forecasts a year-over-year bookings decline of 14% to 18%. Take-Two (down 20%) and GameStop (up 31%) year to date suggest the pressure is specific to Roblox, and the article frames the key test as whether bookings stabilize while user growth continues.

    Yahoo Finance·RBLXtech stocksregulation
  • Super Micro (SMCI) Won Over $60 Billion in Orders, Is the Discount Deserved?

    A contractor linked to Super Micro Computer (SMCI) pleaded guilty earlier this month to helping ship servers with advanced Nvidia chips to China, a case prosecutors say involved billions of dollars of U.S. AI technology, though the company says it was not named as a defendant and its operations are unaffected. Sales for the fiscal year ended June reached $39.1 billion, up from $22.0 billion, with CEO Charles Liang citing more than $60 billion in new orders, several hundred added enterprise customers, and a record backlog. Management guides to $65.0 billion to $72.0 billion in fiscal 2027 sales, and sales have grown about 61.5% a year over five years. Gross margin was 10.8% for the full year but rose to 17.5% in the June quarter, with net income of $1,178 million, while the trailing 12-month operating margin was 7.09%. The article notes the stock trades at a much lower multiple of expected earnings than the sector, and that one strong quarter does not yet prove a new margin level.

    Yahoo Finance·▲ NVDASMCIartificial intelligenceearnings
  • Is Nvidia Stock Really Trading for Just 8 Times 2030 Earnings?

    Nvidia is the market's most valuable company, with a market cap above $5 trillion. It trades at 27 times adjusted trailing earnings, but only about 8 times analysts' estimate for fiscal 2030 earnings, a figure the author stresses is a moving target. Revenue growth accelerated from 56% in Q2 FY 2026 to 106% in Q2 FY 2027, though guidance points to a slight slowdown in the current quarter. The stock trades at 13 times next year's earnings, and the board recently authorized a record $150 billion in share repurchases. The author also acknowledges risks such as slower growth or contracting net margins.

    Yahoo Finance·• NVDANvidiavaluationearnings
  • California billionaire tax could backfire, Stanford study says

    Stanford economists Benjamin Jaros and Joshua Rauh argue in an NBER working paper that California's proposed one-time 5% tax on billionaire wealth could raise far less than projected and ultimately reduce state revenue. Seven billionaires, including Peter Thiel, Larry Page and Sergey Brin, have publicly left the state, removing about $540 billion, or 30%, of California's billionaire wealth from potential taxation. The authors estimate the measure could generate only about $30 billion, versus the $100 billion projected by proponents, while losing $1 billion to $3.5 billion a year in income tax revenue could leave the state about $39 billion worse off in present-value terms if those losses persist. The measure, Proposition 40, goes to voters next month, and a Citrin-Politico poll found 46% of likely voters in favor and 43% opposed. Supporters, including Nobel laureates Daron Acemoglu and Joseph Stiglitz, argue the tax will fund health care and that California has attracted more venture funding since the proposal was announced.

    Yahoo Finance·taxesCaliforniabillionaires
  • US Orders Civilian Agencies to Rip DeepSeek Out of Government Systems

    The U.S. Department of Homeland Security on Monday ordered civilian federal agencies to remove DeepSeek products and third-party services built on the model from their IT systems, and to stop buying them. The notice warns that using DeepSeek may transfer sensitive data to China and could produce intelligence on U.S. persons and agencies. The Commerce Department, the Navy, and the states of New York, Tennessee and Virginia had already restricted DeepSeek. The FCC votes on October 29 on barring Chinese labs from testing electronics for U.S. use.

    Decrypt·DeepSeekChinaartificial intelligence
  • NVIDIA Stock And 2 Other Undervalued Stocks To Own

    Rising interest rates have pushed down bond prices, with 10-year U.S. Treasuries recording one of their steepest multi-year declines since the 18th century. The article highlights three U.S. stocks that a Simply Wall St cash flow screen considers attractively priced relative to their future cash flow potential: NVIDIA, Wells Fargo and J.B. Hunt Transport Services. NVIDIA generated about US$275.4b from Compute & Networking and US$27.6b from Graphics, with a market cap of US$5,170.6b, and the piece notes that an open-source or cheaper alternative to its CUDA platform could weaken its moat. Wells Fargo, with a market cap of US$251.7b, grew average loans 12% and average deposits 10% year over year in 2Q26 after the removal of its asset cap, while J.B. Hunt, with a market cap of US$21.3b and US$13.3b in revenue, recorded record intermodal volume of over 578,000 loads in Q2 2026.

    Yahoo Finance·▲ NVDANvidiabondsinterest rates

All news →

Get the briefing on Telegram or Zalo

Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.