Ten People Arrested in €6M Crypto Scam Controlled from Israel
- Four fraudsters were arrested in France while Israeli police questioned five persons.
Ten alleged scammers were arrested today in connection with a cryptocurrency scheme that defrauded investors out of EUR 6 million ($6.60 million). Authorities in France and Belgium said today they had busted the Israel-based organized crime group who lured 85 unsuspecting investors in both countries to invest in 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 and other altcoins.
The indictment describes the defendants’ use of elaborate tactics to lure victims with promises of large returns of up to 35 percent on their investments. According to Eurojust and Europol, the scheme was a classic con game with a twist; early birds were paid small yields in order to recruit new investors or invest more money.
As also charged, they used some new investors’ funds to pay back other investors in a Ponzi-like fashion, so that they would invest or refer additional money, thereby allowing the scheme to continue for a longer period of time.
Investors were encouraged to deposit their money with “fake companies,” which were then quickly transferred to bank accounts in various Asian countries and Turkey.
Four fraudsters were arrested in France in January 2019. The statement also says police seized EUR 1 million in cooperation with authorities in Luxembourg. Further, Israeli police conducted seven searches and questioned five persons.
While trading Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term in France is legal, the country has a regulatory framework and compliance standards for the industry.
The Pacte Law encompasses a very broad range of measures covering many aspects of all crypto-active players. The current laws require cryptocurrency exchanges as well as custodian providers to undergo a mandatory AMF registration and obtain a certification to be granted by the French watchdog. The AMF confirmed that it is already involved with other crypto-related operators such as exchange platforms, custodians, and asset managers.
The new framework also comes with hefty fines for those who fail to comply, but will not reimburse investors for their losses as it happens with compensation funds that cover traditional investments.
Ten alleged scammers were arrested today in connection with a cryptocurrency scheme that defrauded investors out of EUR 6 million ($6.60 million). Authorities in France and Belgium said today they had busted the Israel-based organized crime group who lured 85 unsuspecting investors in both countries to invest in 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 and other altcoins.
The indictment describes the defendants’ use of elaborate tactics to lure victims with promises of large returns of up to 35 percent on their investments. According to Eurojust and Europol, the scheme was a classic con game with a twist; early birds were paid small yields in order to recruit new investors or invest more money.
As also charged, they used some new investors’ funds to pay back other investors in a Ponzi-like fashion, so that they would invest or refer additional money, thereby allowing the scheme to continue for a longer period of time.
Investors were encouraged to deposit their money with “fake companies,” which were then quickly transferred to bank accounts in various Asian countries and Turkey.
Four fraudsters were arrested in France in January 2019. The statement also says police seized EUR 1 million in cooperation with authorities in Luxembourg. Further, Israeli police conducted seven searches and questioned five persons.
While trading Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term in France is legal, the country has a regulatory framework and compliance standards for the industry.
The Pacte Law encompasses a very broad range of measures covering many aspects of all crypto-active players. The current laws require cryptocurrency exchanges as well as custodian providers to undergo a mandatory AMF registration and obtain a certification to be granted by the French watchdog. The AMF confirmed that it is already involved with other crypto-related operators such as exchange platforms, custodians, and asset managers.
The new framework also comes with hefty fines for those who fail to comply, but will not reimburse investors for their losses as it happens with compensation funds that cover traditional investments.