The U.S. judicial system has delivered another verdict in the cryptocurrency fraud space. A New York man was sentenced to 15 months in prison and 3 years of supervised release for impersonating well-known crypto influencers on Telegram and luring investors with fake staking returns.
According to prosecutors, 39-year-old Noman Saleem pleaded guilty to wire fraud in September 2025. He created multiple fake Telegram accounts pretending to be prominent crypto personalities, attracting thousands of users to his channels. To build further trust, Saleem established paid premium sub-channels, where he promised subscribers “guaranteed returns” through crypto staking or specific investment opportunities. Many victims, trusting the impersonated identities, transferred their crypto assets to wallets controlled by Saleem.
Fraud Method: Fake Staking and Disappearance
However, investigators found that Saleem never used any of the funds for actual staking or investment. After successfully obtaining the money, he immediately cut off communication with victims and moved the assets to personal accounts. Court documents show the total loss exceeded $1.4 million. The U.S. government has recovered and seized most of the funds, though some losses remain unrecovered. Saleem’s lawyer had requested probation before sentencing, but the court decided on a prison term to deter similar crimes.
The case serves as a reminder for crypto investors to remain wary of so-called KOLs on social media who promise “guaranteed high returns.” Messaging platforms like Telegram have become hotbeds for such scams. Users are advised to verify identities through multiple channels and avoid transferring assets to untrusted addresses. U.S. authorities stated they will continue to aggressively combat traditional fraud schemes involving crypto assets.