Euro-cops shut down crypto scam that bilked millions from unwitting punters
European cops arrested 15 suspected scammers and shut down a multi-country network of call centers selling fake cryptocurrency that law enforcement said stole upwards of hundreds of million euros from victims.
The criminals advertised these phony investment opportunities on social media, luring the victims to websites that were controlled by the miscreants that promised too-good-to-be-true crypto investment opportunities. The crooks first convinced the victims to invest low, three-digit sums. Then, using the lure of fake price hikes and lucrative profits, the criminals enticed their victims to transfer larger amounts.
"The investigation suggests that the number of unreported cases is likely to be much higher," Europol."This would mean that the illegal gains generated by the criminal groups, with at least four call centers in eastern Europe, may be in the hundreds of millions of euros."
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