coinpedia 2025-03-18 07:25:02

Crypto News: $32.6 Million Bitcoin Pyramid Scheme Dismantled by Spanish Authorities

The post Crypto News: $32.6 Million Bitcoin Pyramid Scheme Dismantled by Spanish Authorities appeared first on Coinpedia Fintech News Spanish police have successfully dismantled a massive Bitcoin-themed cryptocurrency pyramid scheme that defrauded over 3,600 victims out of approximately $32.6 million. The operation, led by Spain’s National Police Corps (CNP) , resulted in the arrest of eight individuals across multiple cities, including Malaga, Madrid, and Meria. The group, consisting of various professionals such as marketing experts and web designers, ran a complex operation that promoted fake Bitcoin investment plans to unsuspecting individuals, many of whom had no prior knowledge of cryptocurrencies. The scam operators made it simple for victims to convert large sums of money, often hundreds or thousands of euros, into Bitcoin. Some victims were even manipulated into surrendering control of their electronic devices, enabling the scammers to perform crypto transfers and steal personal and banking information. Growing Threat of Scams The police first learned of the scheme in 2022 when a victim filed a complaint in Murcia, and the investigation revealed a fraudulent network in which new investors’ funds were used to pay older investors, a typical characteristic of a pyramid scheme. The CNP found that the scammers had promised unrealistic returns of 40% after one month and up to 300% after a year. Investigators discovered substantial Bitcoin holdings in the criminals’ wallets, as well as a worthless token they issued to investors. The scam affected victims across 36 countries, with the majority of the victims residing in Spain. In response, the authorities froze 73 bank accounts, seized vehicles, and impounded cash and computer equipment. The operation serves as a reminder of the risks of unregulated crypto investments and the growing threat of scams in the industry.

Meist gelesene Nachrichten

Solana’s Price Action Faces Uncertainty Amid...
2025-03-19
The Ultimate Guide To Crypto Marketing For To...
2025-03-19
Urgent Macro Catalyst Needed for Bitcoin ETFs...
2025-03-19
North Carolina Eyes Bitcoin as Strategic Rese...
2025-03-19
Hyperliquid 50x Leveraged Whale Denies ZachXB...
2025-03-19
Institutional Investors Show Strong Interest...
2025-03-19
Solana stablecoin positioning threatens ‘extr...
2025-03-19
Uniswap (UNI) Price Analysis: Will the Fed’s...
2025-03-19

Ähnliche Neuigkeiten

North Dakota Strengthens Crypto ATM Rules
19 Mar 2025
Surging AUD/NZD: BofA’s Bold Forecast Unveils Rate...
19 Mar 2025
EOS Network is rebranding to Vaulta, token swap pl...
19 Mar 2025
North Carolina Proposes Bill to Allocate 10% of Pu...
19 Mar 2025
Ripple (XRP) News March 19th: Here’s What Happened
19 Mar 2025
Acting SEC Chairman Mark Uyeda Proposes Withdrawal...
19 Mar 2025

Lesen Sie den Haftungsausschluss : Alle hierin bereitgestellten Inhalte unserer Website, Hyperlinks, zugehörige Anwendungen, Foren, Blogs, Social-Media-Konten und andere Plattformen („Website“) dienen ausschließlich Ihrer allgemeinen Information und werden aus Quellen Dritter bezogen. Wir geben keinerlei Garantien in Bezug auf unseren Inhalt, einschließlich, aber nicht beschränkt auf Genauigkeit und Aktualität. Kein Teil der Inhalte, die wir zur Verfügung stellen, stellt Finanzberatung, Rechtsberatung oder eine andere Form der Beratung dar, die für Ihr spezifisches Vertrauen zu irgendeinem Zweck bestimmt ist. Die Verwendung oder das Vertrauen in unsere Inhalte erfolgt ausschließlich auf eigenes Risiko und Ermessen. Sie sollten Ihre eigenen Untersuchungen durchführen, unsere Inhalte prüfen, analysieren und überprüfen, bevor Sie sich darauf verlassen. Der Handel ist eine sehr riskante Aktivität, die zu erheblichen Verlusten führen kann. Konsultieren Sie daher Ihren Finanzberater, bevor Sie eine Entscheidung treffen. Kein Inhalt unserer Website ist als Aufforderung oder Angebot zu verstehen