Cryptocurrency fraud ring busted

VTV.vn - European authorities have dismantled a long-standing cryptocurrency fraud ring, with more than 100 victims losing more than 100 million Euros.

Europe busts cryptocurrency scam ring

European authorities have dismantled a long-running cryptocurrency fraud ring that saw more than 100 victims lose more than 100 million euros ($118 million), the EU judicial agency Eurojust said on September 23.

Police raided homes in Spain, Portugal, Italy, Romania and Bulgaria, arresting five suspects, including the alleged mastermind, who is suspected of fraud and large-scale money laundering, the statement said.

According to Eurojust, the victims, mostly Europeans, were promised huge returns from cryptocurrency investments through professionally designed online platforms. The transferred funds were then routed to Lithuania for laundering. When the victims tried to withdraw their investments, they were asked to pay additional fees, after which the website used to carry out the scam disappeared.

Eurojust said the ring had been operating since at least 2018, spanning some 23 countries. The raids took place last week but were made public late due to legal proceedings in many countries.

Source: https://vtv.vn/triet-pha-duong-day-lua-dao-tien-dien-tu-100250924093609627.htm