Arrested in Spain One of the Biggest Cryptocurrency Scammers in Europe
- The Spanish police managed to apprehend the scammer in Valencia, accused of scamming dozens of people with false investments in crypto assets.
- The totality of the assets seized from the fraudster amounts to 2.5 million euros.
The cybercriminal of Portuguese nationality arrested by the Spanish Civil Guard in Valencia, was wanted throughout Europe accused of being involved in several scams related to investments in cryptocurrencies, according to the police.
For the 45-year-old man, whose identity was not disclosed, the authorities blocked bank accounts worth more than 2.5 million euros, which are presumed to have been obtained through multiple scams in several European countries.
Specifically, he is being charged with seven crimes of fraud and money laundering. The false investments were promoted by the detainee through a website that in turn advertised in various forums, the media, sporting events and charity actions.
Scams on the rise
Most of the criminal operations were carried out in Spain and Portugal, where dozens of people were scammed. The investigations that led to the arrest of the criminal began in August 2021.
The police were informed that the criminal had been operating in Spain, through a web platform where he applied the classic Ponzi scheme of fraud. To attract its unsuspecting investors, it offered minimum earnings of up to 2.5% per week, depending on the amount invested.
The…
