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The organization used online platforms to simulate Bitcoin investments and attract victims.
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The victims saw initial profits, but when trying to withdraw their money the funds were blocked.
The Spanish police have dismantled a criminal organization that operated in Madrid, Málaga and Murcia, dedicated to commit fraud in investments with cryptocurrencies through a pyramidal scam. The operation resulted in eight people and affected more than 3,600 victimsmost in Spain, with losses that could exceed 30 million euros.
The investigation, which lasted for almost three years, began in 2022 after the complaint of a victim in Murcia. The network, led by a computer programmer arrested in Malaga, created an online platform that It offered investment plans in Bitcoins with promises of high profitability, such as 40% in a month or up to 300% in a year.
Initially, investors received returns to generate trust and attract more funds, but the structure collapsed when they tried to recover their capital, revealing the fraudulent nature of the scheme.
A fraud that reached 400 BTC
During the operations, 73 bank accounts, 12 vehicles, five motorcycles, computer material and 1,500 euros in cash were intervened, as reported by cryptootics. It is estimated that fraud reached 400 bitcoins (BTC). With the current price of approximately 93,000 euros per BTC, This would be equivalent to about 37.2 million euros.
The authorities recommend investors to verify the authorization of financial institutions through the National Securities Market Commission (CNMV) and distrust high profitability promises without risk. In addition, they advise to avoid schemes that request the collection of new customers to obtain bonuses and distrust requests for the installation of remote control applications on personal devices.
This event highlights the importance of caution by investing in cryptocurrencies and the need to carry out thorough investigation before compromising funds on unregulated platforms. Before getting involved in the world of cryptocurrencies, it is important to inform yourself correctly. In our cryptopedia about Bitcoin and malware scams, we explain each of these cases in detail.