European law enforcement just took down a massive crypto scam operation. Europol dismantled a sophisticated fraud ring that managed to launder over €700 million through bogus investment schemes. The network lured victims with promises of high returns on crypto investments, only to funnel the funds through an elaborate laundering pipeline. Authorities coordinated across multiple jurisdictions to shut down the operation and seize assets. This bust highlights the ongoing cat-and-mouse game between regulators and bad actors exploiting crypto's borderless nature.
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YieldWhisperer
· 12-05 16:50
Is 700 million euros real? This trick is so old-fashioned, no wonder they got caught.
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not_your_keys
· 12-05 16:48
700 million euros, wow, these scammers are really bold. Are people still falling for this?
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Another group of scammers has been caught, but the next wave is probably already on the way...
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Europol acted pretty fast this time, but I still think it's just a temporary fix and not a real solution.
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I've always said: not your keys, not your coins. Yet these people just have to mess with it.
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Cross-border enforcement sounds easy but is hard to pull off. 7 million, huh? Even black-on-black crime seems worth it?
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I really don't get why people still believe in high-return crypto investments. Haven't people gotten smarter by now?
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Good job catching them this time, but I bet the money is already laundered. Can they really recover it?
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Online scams will never beat regulation; it's only a matter of time before they're done for.
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ser_we_are_early
· 12-05 16:45
700 million is gone, that's why I only play with an amount I can hold.
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SellTheBounce
· 12-05 16:29
Seven million euros, and it only came to light after they got caught. The losses we retail investors suffer really don't amount to much in comparison.
European law enforcement just took down a massive crypto scam operation. Europol dismantled a sophisticated fraud ring that managed to launder over €700 million through bogus investment schemes. The network lured victims with promises of high returns on crypto investments, only to funnel the funds through an elaborate laundering pipeline. Authorities coordinated across multiple jurisdictions to shut down the operation and seize assets. This bust highlights the ongoing cat-and-mouse game between regulators and bad actors exploiting crypto's borderless nature.