A New York man has been sentenced to federal prison after operating a crypto influencer impersonation scam that convinced victims to invest more than $1.4 million in fake cryptocurrency opportunities. Prosecutors say he used Telegram to impersonate well-known figures in the crypto community, attracting thousands of followers before directing victims into fraudulent investment schemes.
Investigators ultimately tracked much of the stolen cryptocurrency to a wallet under his control, allowing authorities to recover most of the missing funds.
Fraudster Used Fake Telegram Accounts to Build Trust
According to the US Department of Justice, 39-year-old Noman Saleem, of Queens and Long Island, created Telegram accounts that closely resembled those of well-known cryptocurrency influencers.
Rather than relying solely on fake profiles, Saleem promoted the accounts through paid Telegram advertisements that ran for months. One of the channels reportedly attracted thousands of followers, helping the scam appear legitimate.
Prosecutors say Saleem encouraged users to join exclusive cryptocurrency communities, purchase VIP memberships, and invest in what he described as profitable staking opportunities with guaranteed returns.
Authorities allege he stole at least $1,415,067.14 in cryptocurrency from victims across multiple US states between December 2020 and March 2021.
FBI Recovered Most of the Stolen Cryptocurrency
Saleem pleaded guilty to wire fraud in September 2025. Although the offense carried a potential prison sentence of up to 20 years, a federal court sentenced him this month to 15 months in prison.
During the investigation, the FBI identified a cryptocurrency wallet linked to Saleem that contained 300 Ethereum (ETH). At the time investigators located the wallet, the cryptocurrency was worth nearly $1.5 million, allowing authorities to recover most of the stolen assets.
Scam Followed a Three-Stage Strategy
The Department of Justice did not identify the legitimate influencers whose identities Saleem copied. However, officials described them as prominent cryptocurrency personalities on Telegram.
Finance and Web3 licensing platform Aiying analyzed the operation and described it as a highly organized fraud built around three separate stages.
The first stage focused on creating public Telegram channels that closely copied the usernames and branding of genuine crypto influencers. Because many users believed the channels were authentic, the fake communities quickly attracted large audiences.
Next, Saleem introduced paid VIP memberships costing roughly $500 to $600, payable in cryptocurrency. Subscribers received private messaging access and exclusive content designed to strengthen confidence in the fraudulent operation.
Finally, he directed VIP members toward fake cryptocurrency staking programs that promised fixed returns within 30 to 90 days. According to Aiying, the scam claimed larger investments would generate higher profits, encouraging victims to transfer even more cryptocurrency.
Investigators also found that Saleem created another Telegram account impersonating a second well-known crypto influencer and repeated the same scheme through an additional VIP channel.
How the Fake Crypto Staking Scheme Worked
Crypto staking is a legitimate feature offered by many blockchain networks and cryptocurrency platforms. Investors lock their digital assets for a defined period to help validate blockchain transactions and, in return, earn staking rewards.
Scammers frequently abuse that concept by advertising unrealistic profits with little or no risk.
According to prosecutors, Saleem told victims he would stake their cryptocurrency and guarantee substantial returns. Instead, investigators say he simply kept the funds for himself. The Department of Justice confirmed that he never staked any of the cryptocurrency entrusted to him.
Crypto Investment Scams Continue to Target Social Media Users
The case highlights how criminals increasingly exploit trusted online personalities to steal digital assets. By combining fake influencer accounts, paid promotions, subscription services, and fraudulent investment opportunities, scammers can build credibility before asking victims to transfer cryptocurrency.
Authorities continue to urge investors to verify the identity of cryptocurrency influencers, question promises of guaranteed returns, and confirm investment opportunities through official channels before sending digital assets.
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