European law enforcement has arrested suspects linked to a crypto investment fraud ring that defrauded over €100 million from more than 100 victims. The operation revealed a multi-year scam offering fake high returns, with proceeds funnelled through bank accounts in Lithuania and victims coerced to pay additional fees to recover their assets. #CryptoFraud #Eurojust #Europol
Keypoints
- Authorities in multiple European countries collaborated to dismantle a large-scale crypto investment scam.
- The fraud operated since at least 2018, targeting victims across 23 countries.
- The suspects promoted fake high-return cryptocurrency investments through professional online platforms.
- Funnelled funds were primarily transferred to Lithuanian bank accounts controlled by scammers.
- Victims faced additional fees to recover their stolen assets, often resulting in total financial loss.