Europol – A crypto scam valued at several hundred million euros

This case falls undera cross-border survey conducted between Bulgaria, Cyprus, Germany and Serbia. The reason why European agencies Europol and Eurojust were called. This is to support local authorities in the face of what is presented as “organized criminal groups involved in online investment fraud”.

Of course, he put the tricks together very well. With the main modus operandi call centers established in the 4 countries mentioned above. This is to contact crypto-investors whose personal data is believed to have been taken in dark web. All after one of the many data leaks that occurred (accidentally) in the Opensea platform or the website of The book of the book. And finally, total losses of which Europol estimates amount to “hundreds of millions of euros”


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Crypto Scams – Dismantling Call Centers in Eastern Europe

How to tell if your personal data was corrupted when a crypto player’s customer data was stolen. Perhaps simply because your phone has already rung, with someone on the other end of the line wanting to offer you an investment with incredible, or rather impossible, returns. A modus operandi obviously more and more widespread, to the point of taking the form of real call centers. And one of whose origins appears to be Eastern Europe, according to an investigation currently being carried out by Europol and Eurojust.

Law enforcement and judicial authorities in Bulgaria, Cyprus, Germany and Serbia, supported by Europol and Eurojust, have joined forces against organized crime groups involved in online investment fraud. This criminal network, consisting of a number of different criminal actors operating through call centers, tricked victims into investing large sums of money in fake cryptocurrency schemes.


The information was revealed at the end of last week after what the agency Europol present on Twitter as dismantling some “call centers selling fake crypto”. With 15 arrested and 261 questioned, some of whom are awaiting criminal prosecution. But also many residences (11) and controlled call centers (4) in Germany, Serbia, Bulgaria and Cyprus. With the simultaneous entry of 3 hardware wallets containing approximately $1 million in cryptocurrencies and about €50,000 in cash.


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An investigation which makes it possible to determine the location of the victims of this large-scale fraud in Germany. Because its investors would be in the front line among the victims who were “encouraged invest more than 2 million euros in fake crypto investment sites. With equally visible consequences in Switzerland, Australia and Canada. This is for a damage that is currently estimated at 2.1 million euros in total.

Europol – A crypto scam worth several hundred million euros

But, according to Europol, this already significant figure would only represent the visible part of this iceberg. Because the victims were lured into the webs of these fraudsters with real profits from small “three-digit” investments. This is to encourage them later to invest much larger amounts, once the “trust” has been established. And since pride is often misplaced, Europol estimates that many cases are not reported to the authorities. Until blowing up this bill in “several hundred million euros”.

The survey suggests that the number of unreported cases is likely much higher. This means that the illegal profits generated by the criminal groups, with at least four call centers in Eastern Europe, could amount to hundreds of millions of euros.


A situation that needs to be emphasized once again serve as a warning to investors and users of the cryptocurrency industry. Because according to many security specialists, there is nothing to suggest this number of scams and fraudulent attacks related to this digital economy can be expected to decline in the coming years. Reason why mistrust should remain de rigueur. Especially when the announced profits are exactly what they seem if you keep your brain on: impossible and surreal.

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