There are currently fifteen complaints from investors. Fraud exceeding 200,000 euros has been recorded, and the National Police is aware of hundreds of victims across Europe. All of them were drawn in by a tempting promise of easy money from home. The masterminds behind this new scam, lured by cryptocurrencies, have been arrested in Alicante, Madrid, Seville, Toledo and Burgos. In these provinces, twelve individuals are charged with belonging to a network that entices cryptocurrency investors by staging large events in luxury hotels, hosting lavish parties, and even gifting luxury cars.
Mass mailing
The National Police started examining the case after discovering a flood of emails with the message, Make money from your home. The scheme involved an initial investment in cryptocurrencies, followed by a series of daily tasks that required interacting with various fraudulent web pages controlled by the group to create a false sense of legitimacy and boost online visibility.
After recruiting collaborators, members of the criminal network offered the opportunity to invest more money in crypto assets that allegedly yield higher returns, aiming to grow the overall profits by bringing in new investors.
When some investors questioned withdrawals, the institution blocked access to funds and urged them to deepen their involvement by recruiting others. They presented the option of holding advertising events, opening physical offices, or receiving high-value gifts, such as cars, to showcase online that the company rewarded investors with substantial financial incentives.
thousands of guests
The recruitment drive of this organization reached thousands of people who were invited to parties and events held in luxury hotels. Across Spain, the organization covered travel and event expenses to demonstrate the appearance of wealth associated with the so-called investment company. They also opened physical facilities to convey an impression of greater legitimacy as a promotional showroom, while the activities of four offices operating in Spain were brought to a halt.
Disbanded by the police, the organization paid for major events, gifts, and promotions with cryptocurrencies and transfers from foreign accounts, concealing the true flow of funds.
Moreover, profits were routed through international companies, bank accounts, and virtual wallets located in several European countries such as the United Kingdom, Lithuania, Norway, France, and Spain, making money tracing difficult for investigators.
Attribution: National Police statements and official case updates