$6.5M Stolen in Crypto Fraud as California Shuts Down 42 Scam Websites
California authorities have shut down 42 fraudulent crypto websites involved in a $6.5 million scam. The sites, part of “pig-butchering” scams, tricked victims into investing in fake crypto platforms, with each victim losing an average of $146,306.
California’s Department of Justice, in collaboration with the Department of Financial Protection and Innovation, is working to prevent further scams by educating consumers about red flags, such as unrealistic returns and missing contact info. Officials urge people to remain cautious and report any suspicious activity to law enforcement.
Clever Robot News Desk 13th March 2025
