Europol seizes Bitcoin, XRP, ETH in scam operation allegedly involving over 1,000 victims

29 January 2021, Friday, 19:30 - ambcrypto.com
Europol seizes Bitcoin, XRP, ETH in scam operation allegedly involving over 1,000 victims
Image Source: Pixabay

European Union Agency for Law Enforcement Cooperation, better known as Europol together with law enforcement agencies in Spain had a breakthrough in an investigation of a company based out of Andorra that claimed to provide crypto and forex investment training.

Local police and Europol alleged that the company was instead operating a fraud that apparently “defrauded thousands of clients.” The investigation that involved house searches led to the seizure of €70 000 (about $84,876) in fiat money and cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), OmiseGo (OMG).

The authorities’ plans with regard to the seized assets remain uncertain at press time.

Europol press release stated that the government agency supported the mobilizing of experts from the European Financial and Economic Crime Centre (EFECC) as well as European Cyber Crime Centre (EC3). According to Europol’s statement in the release, the organization alleged:

Located in Andorra, the company specialized in the training of investment in cryptocurrencies and other assets, and is thought to have also carried out trading activities.

The scam is believed to have an international scope. As a result of the operation that was carried out in January, law enforcement agents were able to arrest six suspects aged between 20 and 34 years. Eight vehicles and several electronic devices were also seized during the investigation.



Read Also

The volumes are screwed up, the capitalization is swollen, what's next?

The volumes are screwed up, the capitalization is swollen, what's next?

Exchanges attract daily volumes with the help of bots cheating. The altcoin is not engaged in cheating, but it attracts key players. It turns out that making decisions based on volumes is doubtful.

When to sell Bitcoin?

When to sell Bitcoin?

Everyone wants to know when to sell their tokens and leave the market. Prediction tools exist in closed access. For example, the Bitcoin Days Destroyed chart shows how active the long-term BTC coin holders are.

How not to miss the start of the bull market next time?

How not to miss the start of the bull market next time?

I would like to present a useful tool to identify the new Bitcoin growth cycle - the Golden Ratio Multiplier. Do not be afraid of unclear words. The important thing is that with the help of this chart it is easy to understand when the BTC starts a