Authorities in Germany, Bulgaria, Serbia and Cyprus Close Crypto Scam Network Regulation
Authorities in Germany, Bulgaria, Serbia and Cyprus Close Crypto Scam Network Regulation
authorities in Germany, Bulgaria, Serbia and Cyprus have paralyzed a cryptocurrency fraud network in cooperation with Europol. "The suspects used advertising on social networks to attract victims to websites that were hidden by criminals who offered seemingly exceptional investment opportunities in cryptocurrencies," explained Europol.
authorities proceed against cryptocurrency fraud
Europol announced on Thursday that authorities from Bulgaria, Serbia, Cyprus and Germany in cooperation with Europol and Euro Just "CallCenter who sell fake crypto".
The criminal network, which operates on call center, "attracted the victims to invest large amounts of money in fake cryptocurrency schemes," said Europol and stated:
The suspects used advertising on social networks to lure victims to the crime -hidden websites that offered seemingly extraordinary investment opportunities in cryptocurrencies.
In this case, 15 people were arrested, 261 interrogated and 22 locations were searched, including four call centers. The authorities also confiscated three hardware wallets with around $ 1 million of cryptocurrencies, around 50,000 euros in cash, three vehicles, electronic devices, documents and data backups.
Victim, especially from Germany, were initially convinced that they invest small sums of money. "Fake price increases that led to supposedly lucrative profits for investors then tempted them to transfer higher amounts," said the EU criminal investigation authority and added:
The financial damage for German victims is currently estimated at over two million euros.
Europol further revealed that there are victims in other countries, including Switzerland, Australia and Canada.
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