By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CoinLucidCoinLucid
  • All News
  • Bitcoin
  • Ethereum
  • Altcoins
  • Blockchain
  • DeFi
  • Mining
  • NFT
  • Learning
Reading: Takedown of Crypto Investment Scam responsible for losses of $16M in Italy and Abania
Share
Notification Show More
Latest News
What is Fair Value Gap – Smart Money Concepts
Learning
What are Equal Highs and Equal Lows – Smart Money Concepts
Learning
Ankr Network rising by 50% in the past 24h following its partnership with Microsoft
All News
110M $ALBT Hacked and trading suspended from KuCoin
All News Altcoins
What are Moving Averages (MAs)?
Learning
Aa
Aa
CoinLucidCoinLucid
  • All News
  • Bitcoin
  • Ethereum
  • Altcoins
  • Blockchain
  • DeFi
  • NFT
  • Mining
  • Learning
  • All News
  • Bitcoin
  • Ethereum
  • Altcoins
  • Blockchain
  • DeFi
  • Mining
  • NFT
  • Learning
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 Marketoken All Rights Reserved.
CoinLucid > Blog > All News > Takedown of Crypto Investment Scam responsible for losses of $16M in Italy and Abania
All News

Takedown of Crypto Investment Scam responsible for losses of $16M in Italy and Abania

Ed Miles
Last updated: 2022/12/23 at 1:20 PM
By Ed Miles 4 Min Read
Share
SHARE

The joint efforts of Eurojust, Italy, and Albania have successfully dismantled an online investment fraud based on the use of cryptocurrencies. During the action, assets worth up to 3 million euros were seized. Eurojust provided essential support to the judicial cooperation between the two countries and also facilitated the establishment and funding of a joint investigation team (JIT). This initiative is a testament to the effectiveness of international law enforcement efforts in tackling online criminal activities. The total cost of the damage is around $16M.

The investigation into an investment fraud case revealed that the crime was committed by an organized crime group (OCG) operating out of a call center in Tirana, Albania. The group used unidentifiable virtual numbers and virtual private networks (VPNs) to contact victims by phone and convince them to create an account on a portal. Once the transfer was made, the suspects reset the account, embezzled the funds, and made themselves untraceable. The authorities are still searching for the OCG members involved in the fraud.

#Eurojust has helped authorities in Italy and Albania to take down a criminal group that defrauded online investors.

From a call centre in Tirana, victims were conned out of money with various tricks.

The total damage is estimated at EUR 15 million.

👉 https://t.co/9tPhRf9NyH pic.twitter.com/S6qRalwKGX

— Eurojust (@Eurojust) December 19, 2022

The perpetrators of the recent cryptocurrency scam were able to gain the trust of their victims by convincing them that they could secure an immediate financial gain with a small initial investment. Victims were contacted by alleged ‘brokers’ via reputable online trading platforms, which promised profitable investments in cryptocurrencies with zero risk. This false sense of security and potential for easy money enticed many unsuspecting investors and ultimately cost them a great deal of money.

The second phase of the scam saw the perpetrators gain access to the victims’ personal home banking pages through the use of PC remote control software. They then proceeded to convince the victims to invest their entire economic capital, leaving them vulnerable and exposed. In the final stage of the scam, members of the criminal organization contacted victims who had uncovered the deception and attempted to convince them to make additional payments to recover the lost funds. This was a particularly malicious way of exploiting the victims, as those who had already been taken advantage of were being targeted again.

Eurojust coordinated a three-day action from December 13-15 which saw the execution of precautionary detention orders against the main suspects of fraud. Thirteen locations were searched in Albania, with 160 electronic devices, a mobile phone, and 3 million euros in assets seized in both Italy and Albania. The Italian authorities opened the case with Eurojust in 2020 and since then, Eurojust has provided active facilitation of cross-border judicial cooperation between the involved nations, as well as funding and organization of four coordination meetings and a coordination center during the action.

More about Eurojust

Eurojust is an agency of the European Union that was established in 2002 to fight serious crime. It has the mandate to ensure that justice is applied consistently across the EU and to strengthen the cooperation of judicial authorities in different member states. Eurojust works to ensure that the laws of the EU are enforced and that justice is served for all its citizens. It does this by providing support to national authorities, facilitating cross-border cooperation, and helping to ensure that serious crimes are properly investigated and prosecuted. Eurojust helps to ensure that justice is served throughout the EU and is an invaluable asset in fighting crime.

You Might Also Like

Ankr Network rising by 50% in the past 24h following its partnership with Microsoft

110M $ALBT Hacked and trading suspended from KuCoin

Crypto Bullish sentiment is at Risk before the FOMC today

$NFTS Seedify January Updates

DOGE Dogecoin Trading Signals + Buy & Sell Alerts

TAGGED: Albania, Eurojust, Italy, scam
Share this Article
Facebook Twitter Email Print
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Crypto Exchange Bullish Calls Off SPAC $9 billion Deal
Next Article SEC General Counsel Dan Berkovitz Quits After ‘Cozy Relationship’ With SBF and FTX
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Telegram Follow

Top 24h Crypto Gainers

NamePriceChanges 24H

Top 24h Crypto Losers

NamePriceChanges 24H

Latest News

What is Fair Value Gap – Smart Money Concepts
Learning
What are Equal Highs and Equal Lows – Smart Money Concepts
Learning
Ankr Network rising by 50% in the past 24h following its partnership with Microsoft
All News
110M $ALBT Hacked and trading suspended from KuCoin
All News Altcoins
//

We provide News and information to understand better the world of Crypto Tokens

Quick Link

  • Privacy Policy
  • Website Terms of Use

Support

  • OUR SITE MAP
  • Write For Us
  • Crypto Heat Map

Register to Our Newsletter

Get the Crypto updates straight to your inbox!

© 2022 Marketoken. All Rights Reserved.

  • bitcoinBitcoin(BTC)
    $27,209.00-2.39% 24H
    BITCOIN
    24H : -2.39%
    Volume : $18.75B
    Marketcap : $525.25B
  • ethereumEthereum(ETH)
    $1,714.77-2.91% 24H
    ETHEREUM
    24H : -2.91%
    Volume : $9.75B
    Marketcap : $206.24B
  • tetherTether(USDT)
    $1.00-0.16% 24H
    TETHER
    24H : -0.16%
    Volume : $29.53B
    Marketcap : $79.31B
  • binancecoinBNB(BNB)
    $308.54-5.99% 24H
    BNB
    24H : -5.99%
    Volume : $1.03B
    Marketcap : $48.61B
  • usd-coinUSD Coin(USDC)
    $1.000.050% 24H
    USD COIN
    24H : 0.050%
    Volume : $4.55B
    Marketcap : $33.49B
  • rippleXRP(XRP)
    $0.4817.15% 24H
    XRP
    24H : 7.15%
    Volume : $3.28B
    Marketcap : $24.84B
  • cardanoCardano(ADA)
    $0.345-2.91% 24H
    CARDANO
    24H : -2.91%
    Volume : $338.57M
    Marketcap : $12.07B
  • dogecoinDogecoin(DOGE)
    $0.073-1.41% 24H
    DOGECOIN
    24H : -1.41%
    Volume : $557.53M
    Marketcap : $10.15B
  • staked-etherLido Staked Ether(STETH)
    $1,710.21-2.88% 24H
    LIDO STAKED ETHER
    24H : -2.88%
    Volume : $22.42M
    Marketcap : $10.04B
  • matic-networkPolygon(MATIC)
    $1.05-4.77% 24H
    POLYGON
    24H : -4.77%
    Volume : $480.35M
    Marketcap : $9.51B
Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Go to mobile version
Welcome Back!

Sign in to your account

Register Lost your password?