EU Agencies Uncover $2.1 Million Crypto Investment Fraud: Don’t Fall Victim!

• Europol and Eurojust, two EU agencies for law enforcement cooperation, joined authorities from Bulgaria, Cyprus, Germany and Serbia to investigate online investment fraud since June 2022.
• The investigation identified a criminal network that incurred over $2.1 million in losses — primarily for German investors.
• The scammers lured victims — from Germany, Switzerland, Australia and Canada, among others — to invest in bogus crypto investment schemes and websites.

The European Union agencies Europol and Eurojust recently joined forces with law enforcement authorities from Bulgaria, Cyprus, Germany, and Serbia in order to investigate a series of online investment frauds that have been occurring since June 2022. The investigation has revealed a criminal network responsible for over $2.1 million in losses, primarily to German investors.

The scammers have been able to successfully lure victims from countries all over the world, including Germany, Switzerland, Australia, and Canada, to invest in bogus crypto investment schemes and websites. As a result of the investigation, an operational task force has been created to focus on cross-border investigations in order to combat this type of criminal activity.

The task force has already had some successes, as they were able to take down a series of call centers in Bulgaria, Serbia, and Cyprus that were selling fake crypto. Europol and Eurojust have also released information on the crimes that were committed and the criminals involved in the operation.

The task force is continuing to monitor the situation and is actively working to prevent similar scams from occurring in the future. They are also working to recover the money that was lost in the scams and to bring the perpetrators to justice.

In an effort to combat this type of criminal activity, the task force encourages people to be cautious when investing in crypto and to always verify the legitimacy of any investment before putting their money into it. Additionally, it is important to report any suspicious activity or fraud that you may encounter to the authorities. By working together, the task force is hoping to put an end to these types of scams and to protect the public from falling victim to them.