"Six Austrians Arrested in Multi-Million Euro Crypto Scheme"

Law enforcement agencies from Austria, Cyprus, and Czechia have recently collaborated to dismantle an online cryptocurrency scam, resulting in the arrest of six Austrians allegedly behind the scheme. The investigation, supported by Europol and Eurojust, targeted the orchestrators of a cryptocurrency launched in December 2017. Europol noted that following six house searches, authorities seized over €500,000 in cryptocurrencies and €250,000 in fiat currency and froze numerous bank accounts. Additionally, two cars and a luxury property valued at €1.4m were confiscated. Europol noted that the scam unfolded between December 2017 and February 2018. During this time, the perpetrators masqueraded as a legitimate online trading company offering a new cryptocurrency through an initial coin offering (ICO).

Infosecurity Magazine reports: "Six Austrians Arrested in Multi-Million Euro Crypto Scheme"