๐จ BREAKING | Spain dismantles 4 crypto-linked fraud networks in just one week ๐ช๐ธ
Authorities in Spain have taken down four major criminal operations using cryptocurrencies for scams, data leaks, and international tax fraud.
๐ต๏ธ The most recent case, known as โDigital Smokeโ, involved a fake investment firm based in Barcelona that operated like a call center to manipulate victims. Since 2022, the group has defrauded over โฌ10 million through psychological tactics and remote-access scams.
๐ฎโโ๏ธ The operation led to 21 arrests, and the seizure of:
โข โฌ1M in cash ๐ถ
โข Firearms ๐ซ
โข High-end watches โ
โข Luxury cars ๐
โข Crypto wallets with over โฌ300K in assets ๐
๐ This follows a larger crackdown involving a โฌ460M crypto Ponzi scheme across 30 countries, affecting over 5,000 victims with Europol support.
๐ Investor takeaway: As institutional adoption rises, so do scams. Always verify platforms with official regulators, avoid remote access tools, and be cautious of unrealistic investment promises.