Social media influencer Jabara Igbara, known as Jay Mazini, received seven years in prison for a cryptocurrency scam that stole more than $8 million from Muslims. 🚨
Igbara was found guilty of money laundering and fraud through his Instagram page under the pseudonym Jay Mazini.
Judge Frederick Block also ordered Igbara to pay $10 million in fines for his crimes.
This highlights global efforts to eradicate cryptocurrency scams. Leading world states are tightening the fight against crypto scammers.
Despite huge losses from crypto criminals, TRM Labs noted a 9% decline in illicit virtual currency transactions last year.