YES ! There is currently no clear regulatory framework in the crypto market. We must nevertheless admit one thing: the competent authorities do not skimp on the means to protect users and investors. In London, for example, the Metropolitan Police are celebrating a great victory: the dismantling of the notorious scam site, iSpoof.
More than 100 arrests!
It is with pride that the British Metropolitan Police has announcement on November 24 the dismantling of the iSpoof site. To carry out this operation, which lasted more than 20 months, Scotland Yard’s Cyber Crime Unit worked with US and Ukrainian authorities. The waves of arrests will continue beyond the British borders, in particular in France, the Netherlands, Ireland and Australia.
Scotland Yard’s Cyber Crime Unit has been tracing bitcoin records to identify suspects among the site’s 59,000 users. The latter currently number in the hundreds, including the site organizer Teejai Fletcher. According to the London police statement, the latter has already been charged after his arrest in East London in November. He is now remanded in custody.
iSpoof, one of the biggest scam sites of all time
£3.2 million is the total amount of accumulated earnings by scammers since the creation of the iSpoof fraud site in 2020. It would be the equivalent of $3.9 million.
200,000 is the approximate number of victims recorded on British territory. London police say their financial losses amount to around £10 million. For its part, the Action Fraud center reports more significant losses: up to £48 million generated by calls and texts via iSpoof.
As Commissioner Mark Rowley put it so well in the police statement: “The exploitation of technology by organized criminals is one of the greatest challenges for law enforcement in the 21e century “. The “collaborative and proactive operations” carried out in the four corners of the globe nevertheless make it possible to repress the criminals. Of course, everyone must also be extra vigilant.
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