EU exposes cryptocurrency fraud scheme worth millions of euros

Law enforcement agencies in Italy and Albania, in cooperation with the EU, have uncovered a fraudulent scheme involving investments in cryptocurrencies. The criminals managed to steal about € 15 million.

As it became known, the fraudsters contacted their victims by phone and convinced them to register accounts on a fake crypto platform. In an attempt to remain undetected, the attackers used VPNs and virtual numbers that do not identify themselves.

#Eurojust has helped authorities in Italy and Albania to take down a criminal group that defrauded online investors.

From a call centre in Tirana, victims were conned out of money with various tricks.

The total damage is estimated at EUR 15 million.

👉 https://t.co/9tPhRf9NyH pic.twitter.com/S6qRalwKGX

— Eurojust (@Eurojust) December 19, 2022

Hapless investors were promised big profits with zero risks. Later, the fraudsters encouraged their clients to increase their investments. Using software for remote computer access, the fraudsters changed account data because they had all the necessary information. In this way, the criminals managed to obtain about € 15 million.

During the searches of the fraudsters' headquarters in Tirana, law enforcement officers confiscated more than 160 electronic devices, a mobile phone and property worth a total of € 3 million. The fate of the criminals will be decided in court.

As a reminder, it was to Albania that the founder of the cryptocurrency exchange Thodex, Faruk Fatih Ozera, fled in 2021. In late November, an Albanian court decided to extradite Fatih to Turkey. He is accused of stealing more than $ 100 million from investors. Earlier this summer, he was arrested on charges of fraud and running a criminal organization. The former Thodex chairman faces life imprisonment on all charges.