The fraud caused more than 100 victims in France, Germany, Italy, Spain and many other countries to lose more than 100 million euros ($118 million). The case revealed sophisticated tricks, lasting from 2018 and spreading to 23 countries.
On September 23, Eurojust - the European Union's (EU) Judicial Agency - confirmed that it had arrested 5 suspects in a coordinated campaign with the police of many countries. The simultaneous searches took place in Spain, Portugal, Italy, Romania and Bulgaria, and many bank accounts and assets related to the criminal ring were frozen.
The leader was accused of organizing large-scale fraud and money laundering through an online investment platform. He lured the victim to spend money with the promise of "huge profits" from cryptocurrency, then transferred capital to accounts in Lithuania for legalization. When players want to withdraw money, they come up with "additional fees", then quickly delete the platform, causing the victim to lose everything.
Eurojust said the ring has been in operation since at least 2018, using 23 countries as a pedal for money laundering. The investigation gathered forces from Bulgaria, Italy, Lithuania, Portugal, Romania and Spain, with the support of Europol.
Meanwhile, in the US, the problem of investment fraud is also on the rise. Data from the Federal Trade Commission (FTC) shows that Americans will lose a record $12.5 billion in 2024 to fraud, of which investment fraud alone will account for $5.7 billion, up sharply from $4.6 billion in 2023 and $3.8 billion in 2022.
Notably, 79% of victims of US investment scams reported losing money, with an average loss of more than $9,000 per person. Social media scams, messaging apps, and online platforms cost more than $30 billion - far exceeding traditional tricks like calls or emails.
blockchain analysis company Chainalysis recently revealed a sophisticated attack targeting the Venus Protocol protocol protocol on September 2. sufferers took advantage of the hacked Zoom software to take access to the victim's computer, then manipulate blockchain transactions, take over the wallet representative rights and withdraw assets. However, thanks to the timely response, Venus froze the system in just 20 minutes, forcing the investor to lose up to 3 million USD.
At the same time, Seoul police (Korea) also broke up a cybercrime ring that stole about 30 million USD from 258 victims, most of whom were business leaders. After robbing data and money, the criminal group also impersonated functional agencies to approach the victim's relatives, preparing for the next scams.
A series of consecutive incidents show that high-tech crimes are increasingly reckless, sophisticated and cross-border. Investigation agencies warn people to be wary of promises of "sky-high" profits from cryptocurrency investment, because the scenario of "paying more fees - then losing everything" is being applied by gangs around the world.
