Greek Police Bust $8M Crypto Fraud Network Linked to 10,000 Investors

Greek police have dismantled a massive crypto fraud network that allegedly collected more than $8 million from at least 10,000 participants. The operation, which began in 2025, promised high returns with little to no risk and used a platform to lure in investors.

The 17 suspects arrested in Katerini on October 2 were reportedly serving members of the military, with two non-commissioned officers leading the scheme. They promised investors a doubling of their funds in 50 days, but police stated the platform did not have proper authorization for such services.

During the raids, officers seized €295,090 in cash, 32 mobile phones, 28 computers, 15 tablets, and other electronic devices. The investigation is ongoing, and authorities have not yet given out the total number of victims.