The booming crypto market is now attracting more and more criminals. The proof: there are a large number of crypto scams, and not only in Europe. To curb this scourge, many member countries of the European Union have put in place strategies and dedicated teams. Their mission: to fight against online crypto scams. For its part, the EU’s criminal justice agency (EuroJust) has yet another victory to its name. She just busted a 15 million euro crypto scam.
The reason for the search: online investment scam
In its fight against crypto scams, Eurojust (in collaboration with the Italian and Lebanese authorities) searched the homes of several people suspected of online investment scams. Result: several electronic devices seized. But more important is the dismantling of a major crypto scam. We are talking about 3 million euros in assets, or nearly 15 million euros.
According to the press release published by Eurojust on December 19, this busted crypto scam was the work of an organized criminal group based in Italy and Albania. He operated from a call center in Tirana.
“Perpetrators have earned the trust of victims by allowing them to obtain immediate financial gain for a small initial investment. (…) The perpetrators gained access to the victims’ personal banking pages (using PC remote control software) and convinced them to invest all their economic capital. “, we explained.
Crypto scam: a real scourge in Europe
A lot of data confirms it: the crypto scam is becoming more and more frequent. It manifests in various forms and affects almost every country around the world. According to chain analysis, Eastern Europe is now at the top of the list. It records large volumes of illicit crypto transactions.
Another alarming figure recently published by Solidus in its Rug Pull 2022 report: 350 fraudulent tokens were created every day during the year 2022. These are just a few examples among many of the scams users face on a daily basis.
Crypto platforms are not the only victims of scammers. Crypto scams today are problems that every country in the world has to deal with. Their upsurge nonetheless demonstrates the importance of a strict regulatory framework.
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