$8 Million Crypto Pyramid Scheme Dismantled in Greece

Greek police have dismantled a cryptocurrency pyramid scheme that collected around $8 million from at least 10,000 participants.

The group operated through legitimate-looking company structures and an online platform, promising returns within 50 days. Investigators in the northern city of Katerini led the months-long inquiry, which ended in coordinated raids across nine Greek regions and the seizure of cash, computers, and dozens of storage devices.

The operation had no license from the competent authority and recruited members by promising high, guaranteed returns with minimal or zero risk. Police identified 18 victims who invested a combined €55,970 through the platform, a small share of the total collected. A case file has been opened against nine more suspects, while an investigation remains open as authorities work through the case.