Eu’s criminal justice agency, EuroJust, has carried out raids across Europe to dismantle a crypto scam that caused €15 million in losses.
EU Goes After Crypto Investments Scam
EuroJust worked with authorities in Italy and Albania to tackle an online investment crypto scam and seized €3 million worth of assets. The agency noted that the online investment fraud was carried out by a syndicate of crime groups based in these countries.
The organized crime group operated out of a call center in Tirana. The group used VPNs and untraceable virtual phone numbers to contact victims over the phone. After asking victims to register on a portal, they collect the money transferred and reset the newly created account. Once done, the group embezzles the money and disappears.
EuroJust detailed the method used:
The suspects allegedly contacted the victim by phone using an unidentified virtual number and a delocalized virtual private network. They asked the victim to create an account on the portal. , once the transfer was completed, reset the newly created account, embezzled the received amount and made it untraceable.
Perpetrators gained the trust of their victims by enabling them to secure instant financial returns for a small initial investment. After consulting a seemingly reputable online trading platform, Victims were contacted by “brokers” offering lucrative investments in cryptocurrencies with zero risk.
The gang then accessed the victim’s savings bank account, asking…
