Crypto Scams Target Remote Workers, $2 Million Stolen in Latest Fraud

• Scammers target job seekers with fake remote work offers, stealing over $2M in crypto under false payment promises.
• Fraudulent schemes like “Solano Fi” exploit trust and display fake profits, coercing victims into further losses.
• Authorities warn against unsolicited crypto investments, urging caution with upfront payments and unverifiable offers.

New York Attorney General Letitia James has taken legal action to recover over $2 million swindled in cryptocurrency scams. Fraudsters preyed on victims by promising flexible remote jobs but instead deceived them into purchasing cryptocurrency. These funds were stolen under false pretenses, James revealed in a recent statement. Collaborating with the U.S. Secret Service, her office successfully froze the stolen assets.

The scam involved text messages offering well-paying, remote jobs. Victims were instructed to deposit cryptocurrency into fake accounts to “legitimize” their activities. Scammers assured participants they were not making purchases but rather supporting data validation. Promises of refunded balances and commissions lured victims deeper. However, no money was ever returned.

Rising Crypto Scams: A Nationwide Issue

This fraud echoes warnings from the FBI about increasing remote job scams. In June 2024, the FBI highlighted scams requiring victims to pay upfront cryptocurrency fees to unlock jobs. Often, these jobs included simple tasks such as rating services or clicking buttons. Payments went directly to scammers, leaving victims empty-handed.

In a separate case, Francier Obando Pinillo faces federal charges for running a $2 million Ponzi-like cryptocurrency scheme. Pinillo, a church pastor in Washington, exploited trust within his congregation to promote “Solano Fi,” a fraudulent investment scheme. Promising monthly returns of 34.9%, Pinillo used social media to attract over 1,500 investors.

Legal Consequences and Investor Awareness

Unlike genuine platforms, Solano Fi’s systems displayed fake balances while preventing withdrawals. Pinillo blamed website glitches or market downturns when investors sought refunds. Some were coerced into recruiting new investors to “buy out” their accounts.

The legal repercussions are severe. Pinillo faces up to 20 years in prison for his role in the scheme. Meanwhile, James and federal authorities urge vigilance. They advise skepticism of unsolicited job offers or investments requiring upfront crypto payments.