- The scammers deceived about 3,000 people
- They offered to invest in non-existent cryptocurrencies
Police in Spain have exposed cryptojackers who deceived about 3,000 people and stole more than $110 million..
On April 24, law enforcement officers found and arrested a Balearic Islander. He was accused of fraud with crypto-investments in several countries.</nbsp;
It is known that the scheme was carried out by a group of 6 people.. They are all from different countries, namely: Azerbaijan, Georgia, Ukraine, Russia and Israel.
Police reported that the criminals managed to steal more than $110 million, and in total deceived more than 3,000 people from around the world.
Police authorities in Spain launched an investigation after they were approached by the victim of the scam.
The investigation revealed that the organization was located in Palma de Mallorca. And later it became known that the company transferred the loot outside the EU.
How did they manage to deceive people?
According to the investigation, the scammers looked for potential victims on popular websites, through messages and ads in newspapers..
As in regular scams, they promised high returns with no risk by investing in non-existent cryptocurrencies.
Predominantly, most of the victims invested between 250 and 1,000 euros. After victims sent their funds, the scammers provided them with a phishing website that purportedly displayed a return on investment.
When people wanted to withdraw their earnings, the scammers tried to lure even more money. They demanded funds to pay taxes or close annual balances. Some have been deceived twice.