A crypto scam network stole as much as $500 million through impersonating mainstream banks and crypto companies in order to convince their victims to purchase fake stocks, NFTs and crypto.

The scam ring, named CryptoLabs, has been targeting French speakers through a network of over 300 fake domains, ranging from crypto and fintech organisations to banking and asset management industries. One victim alone lost over $1.6 million to the scam.

Hosted on Acast. See acast.com/privacy for more information.