Crypto Scam Busted via Facebook Ads – $440K Seized, Over 300 Victims Targeted!

Crypto scams are getting smarter — and more dangerous.
Authorities in New York have seized and frozen over $440,000 linked to a sophisticated cryptocurrency investment scam that operated primarily through Facebook ads.

These weren’t your typical sketchy banners. The fraudsters created professional-looking promotions aimed at Russian-speaking users, tricking them into believing they were investing through a legitimate platform. Many of the ads falsely claimed the platforms were fully registered and had a valid BitLicense, the official regulatory license required to operate crypto services legally in New York.

But the truth? Total fabrication.

More than 300 victims fell into the trap, with combined losses surpassing $1 million. Thankfully, coordinated efforts between law enforcement and tech platforms helped recover a portion of the stolen funds.

Facebook has since removed over 700 fraudulent ads related to the scheme and issued a strong warning to users:

> “Be skeptical of investment ads, especially those that promise high returns or claim legal licensing without verification.”



This incident serves as a reminder — in Web3, you control your wallet, but you also carry the full weight of your own due diligence.

Stay sharp out there. 🛡️