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Successful operation against cryptocurrency scam coordinated by Eurojust | Eurojust
A coordinated operation to uncover an intricate cryptocurrency scam has led to the arrest of a suspect in France. Investigations in Portugal, France, Germany, Italy and Romania, supported by Eurojust and Europol, revealed that the suspects used a scam method known as “rip deal” which caused losses of 700 000 euros to Portuguese victims.
Scammers using the “rip deal” method trick their victims into exchanging money through a fraudulent money exchange scheme, which they then use to steal the victim’s assets.
Investigations revealed that the suspects defrauded victims across Europe, including Austria, Italy, Portugal, Spain and Switzerland. The suspects approached the victims expressing interest in acquiring businesses. After gaining their trust and convincing them to set up cryptocurrency wallets, the suspects allegedly stole the victim’s funds.
In the next phase of the scam, other members of the organized crime group allegedly laundered the proceeds of the fraud by moving them through different crypto assets. This made it difficult to trace the proceeds.
The investigation, which lasted several years, culminated in a day of action supported by Eurojust and Europol. During the operation, carried out simultaneously in France, Germany, Italy and Romania, one suspect was arrested and several houses were searched. Authorities froze numerous bank accounts and seized tangible assets such as equipment containing information about the scam.
Eurojust supported the investigation by enabling cooperation between the countries involved in the operation. THE coordination meeting at Eurojust they helped the authorities exchange information and prepare for the day of action. Furthermore, Eurojust supported the execution of European investigation orders (EIO), European arrest warrants (MAE) and freezing orders.
The following authorities were involved in the coordinated operation:
- Portugal: Regional Department for Criminal Investigations and Prosecutor’s Office of Coimbra; Judicial Police
- France: Judicial Court of Bobigny; National Police 93
- Germany: Public Prosecutor’s Office Darmstadt; ZK32 at the Offenbach Crime Directorate, South-East Hesse Police
- Italy: Public Prosecutor’s Office of Milan; State Police – “Lombardia” Cyber Security Operations Center in Milan
- Romania: Directorate for Investigations into Organized Crime and Terrorism – Timișoara Territorial Structure; Romanian Police, Office for the Fight against Organized Crime Timisoara – Unit for the fight against cybercrimes.