Over €8 million involved: Greek police dismantle crypto investment scam ring and arrest 17 people

Odaily News: Greek police have dismantled a crypto investment scam ring and arrested 17 people, including 9 military personnel. A preliminary police investigation shows that about 10,000 people participated in the investment, with an average contribution of about €800 per person, and the amount involved is estimated to exceed €8 million.

The ring operated by recruiting new participants to obtain higher returns, showing pyramid-like characteristics; it recently froze withdrawals and claimed that investors could receive double their principal back in 50 days after doubling their capital. Police have seized about €280,000, and the investigation is ongoing.