EU detains group of international cyber criminals who stole cryptocurrency

Eurojust and Europol, the law enforcement agencies of EU member states, have dismantled a large-scale network of cybercriminals, including residents of Germany, Cyprus, Bulgaria, and Serbia(where До Квон" href="https://noworries.media/biography/do-kvon/" data-bio-id="3665″ data-wpel-link="internal">Do Kwon iscurrently hiding). According to both agencies, the criminals offered gullible depositors «exceptional opportunities for investing in cryptocurrencies.» Investors were lured through targeted advertising on social media, fake websites, and specialized call centers.

According to preliminary data, investors from Germany suffered the largest losses. The total financial losses incurred by the victims exceeded € 2 million. Europol noted that there were at least four call centers controlled by the criminals in Eastern Europe alone. Investigators assume that the investigation may reveal new criminal facts, and the number of victims, as well as the illegal profits of cybercriminals, will increase many times over.

In total, law enforcement officers detained 261 people: 42 in Bulgaria, 2 in Cyprus, 3 in Germany, and 214 in Serbia. Several members of the criminal network have already been imprisoned. So far, the police have confiscated 3 hardware wallets with about $ 1 million in cryptocurrencies, about € 50,000 in cash, 3 vehicles, electronic equipment, documents, and data backups.

As a reminder, the founder of the V Global cryptocurrency pyramid scheme, which caused $ 2 billion in losses, was sentenced to 25 years in prison. Between July 2020 and April 2021, the V Global cryptocurrency exchange defrauded about 50,000 investors of KRW 2.8 trillion (approximately USD 2.26 billion).