Greek Police Bust Crypto Investment Scam Collecting Over $8 Million

Greek authorities have arrested 17 individuals in connection with an alleged cryptocurrency investment scheme that defrauded at least 10,000 people and collected over $8 million.

The group promised investors exceptionally high returns, including doubling their capital within 50 days, but failed to deliver on these promises. In reality, the organization operated a pyramid scheme, using legitimate-looking corporate structures and an online platform to target victims.

A joint police operation was conducted across multiple regions in Greece, resulting in the arrest of two alleged leaders and nine additional members. Authorities identified 18 victims who invested a total of €55,970 through the platform used by the group.