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Dutch Police Bust Fake Crypto Rolex Scam

Guavy AI Editorial Team
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Dutch police have made an unusual arrest in connection with a cryptocurrency scam. Two men, aged 24 and 45, are accused of using fake EURC tokens to buy real Rolex watches.

The suspects allegedly targeted sellers on Marktplaats, a major Dutch online marketplace. They arranged payments for luxury watches with EURC before transferring fake crypto that seemed to be genuine.

EURC is a legitimate euro-denominated stablecoin, but blockchain users can encounter unofficial tokens that imitate the names and symbols of legitimate crypto. Police said the counterfeit cryptocurrency used in the scheme was difficult to distinguish from genuine EURC.

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