The suspects were detained in Cyprus, Germany, and Spain.
During searches, Eurojust officers seized approximately 800,000 euros ($689,000) from the detainees' bank accounts, as well as 415,000 euros ($476,770) in cryptocurrency and 300,000 euros ($344,655) in cash. Law enforcement agencies in Cyprus, Germany, Spain, Belgium, and France cooperated with Eurojust, launching the investigation following numerous complaints from victims.
The perpetrators of the fraudulent scheme created dozens of fake cryptocurrency investment platforms that mimicked legitimate websites. The fraudulent services promised investors high returns on investments in digital assets, luring people through social media ads and phone calls.
Scammers published fake news articles and falsified reviews purporting to be from well-known crypto investors and public figures. When gullible investors transferred their cryptocurrency to fake platforms, they were unable to recover their assets.
Recently, independent "blockchain sleuth" ZachXBT discovered that criminals have increasingly begun robbing cryptocurrency owners in person, stalking them and attacking them with weapons.