October 22, 2022

01/02/2022

On at 12:03 CET

EP

Agents of the Civil Guard have arrested in Valencia a major scammers with false investments in cryptocurrencies at the European level. This is a 45-year-old man who is charged with seven crimes of fraud and money laundering. The total of the blocked assets, between vehicles and bank accounts, amounts to more than two and a half million euros.

The operation, under the name ‘Bitdrop’, It began last August, after the agents learned of the events through collaboration with private security, as reported by the Armed Institute in a statement.

The detainee, a Portuguese national, had created an alleged cryptocurrency investment platform on a website that was made known through various forums, radio programs, sporting events and even charitable movements, in order to attract the attention and investment of people in Spain and Portugal.

The platform offered a minimum return of 2.5 percent per week to investors based on the amount they contributed, who came to acquire roles and thus be able to attract more people.

This method is known as’ponzi scheme‘, a type of scam that tries to mislead victims, who believe that the profits obtained come from a legal activity, although the funds originate from other deceived investors.

In this way, the investment in cryptocurrencies was “a complete success”, so victims invested larger amounts of money and attracted more investors. The detainee used the investments made by…

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