20 Arrested in Spanish Digital Currency Ponzi Scam ‘Unete’
- Spanish police have arrested 20 people in connection with a Ponzi scam based on a digital currency, ‘unete’.
Spanish police have arrested 20 people in connection with a Ponzi scam based on a digital currency, ‘unete’.
Police estimate that as many as 50,000 investors lost up to €50 million in the global operation. Roughly 6,000 of the victims were based locally in Spain. The losses rival the largest among digital currency Ponzi schemes.
Euros were deposited with the operation in Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term for ‘unetes’, each of which was said to represent one dollar.
Investors were promised returns as high as 375% per year, or 7.2% per week prorated. They were offered real-money rewards for recruiting other investors into the scheme. Victims were reportedly impressed by lavish events and charming sales pitches.
Police said they seized sums of around $22 million, €50 million, C$2,600, £1,600 and A$365 from bank accounts connected with the scheme. Also confiscated were computers, equipment, documents related to fraud and money laundering, €15,505 cash and two luxury cars.
The scam bears some resemblance with that of MyCoin in Hong Kong, where dozens of investors lost millions from false promises of high returns from Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term.
Funds in the enete scheme reportedly flowed through an operation set up in St. Vincent and the Grenadines, a regulatory haven.
The investigation took place over a year and a half, and began after a former employee approached police.
Spanish police have arrested 20 people in connection with a Ponzi scam based on a digital currency, ‘unete’.
Police estimate that as many as 50,000 investors lost up to €50 million in the global operation. Roughly 6,000 of the victims were based locally in Spain. The losses rival the largest among digital currency Ponzi schemes.
Euros were deposited with the operation in Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term for ‘unetes’, each of which was said to represent one dollar.
Investors were promised returns as high as 375% per year, or 7.2% per week prorated. They were offered real-money rewards for recruiting other investors into the scheme. Victims were reportedly impressed by lavish events and charming sales pitches.
Police said they seized sums of around $22 million, €50 million, C$2,600, £1,600 and A$365 from bank accounts connected with the scheme. Also confiscated were computers, equipment, documents related to fraud and money laundering, €15,505 cash and two luxury cars.
The scam bears some resemblance with that of MyCoin in Hong Kong, where dozens of investors lost millions from false promises of high returns from Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term.
Funds in the enete scheme reportedly flowed through an operation set up in St. Vincent and the Grenadines, a regulatory haven.
The investigation took place over a year and a half, and began after a former employee approached police.