The FBI has joined forces with the Israeli police to detain twenty-six individuals who were allegedly part of a crypto fraud scheme. Although the operation took place in Tel Aviv, the criminals are believed to have scammed more than £2 million pounds out of victims abroad.
According to The Times of Israel, a joint covert operation with the FBI allowed the Israel Police to arrest twenty-six people on suspicion of involvement in a massive fraud and money-laundering scheme.
Local authorities said they had received information about a group of Israelis luring dozens of people in a fraudulent crypto investment scheme. Instead of providing the promised services, the criminals stole millions from the victims.
After the investigation, the authorities detained the attackers and seized their digital storage devices and computers as evidence.
According to the police report, all those arrested are residents of central Israel. The names of the companies the suspects worked for have not yet been disclosed. However, the police said the trial will begin with two suspects, men in their 30s. They will appear in Tel Aviv Magistrate’s Court this week, despite their victims being US citizens.
The police also stated that apart from arrests in Israel, local law enforcement agencies have carried out similar operations in other countries.
At the beginning of 2021, Thodex, the infamous trading platform, became one of the hottest topics in the crypto community. In April, about 400,000 users of the Turkish crypto exchange were stripped of their accounts and funds. The platform didn’t work for several days, with reports suggesting that its CEO fled the country with more than £1.4 billion.
As a result of the investigation, the Turkish police arrested sixty-two people involved in the scam, six of which are now serving their sentences in prison, brother and sister of the company’s CEO, Faruk Fatih Özer, among them. Thodex CEO, however, is still at large.
A similar case took place in China in June 2021. Chinese authorities detained 1,100 suspects who allegedly used digital assets for money laundering. The subsequent investigation led to 170 criminal groups being dismantled.
Scammers tend to take advantage of newbies in the crypto community. To avoid fraudulent schemes, educate yourself, and do your research about the blockchain industry.
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
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