Close Menu
AsiaTokenFundAsiaTokenFund
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
What's Hot

Polygon Hard Fork Fixes Bug That Knocked Nodes Offline — Network Back Online

September 10, 2025

SEC delays decisions on several ETFs tied to staking and altcoins

September 10, 2025

Whales React as Price Slips

September 10, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) YouTube LinkedIn
AsiaTokenFundAsiaTokenFund
ATF Capital
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
AsiaTokenFundAsiaTokenFund

Crypto fraud web unravels in Cyprus

0
By Aggregated - see source on May 11, 2024 Scams
Share
Facebook Twitter LinkedIn Pinterest Email


[Pixabay]

A well-established international cryptocurrency fraud, dismantled recently, resulted in numerous victims and significant profits for a criminal network.

Operating out of Cyprus, the organization convinced investors of a new cryptocurrency issuance, similar to past cases in the country. About a year and a half ago, authorities dismantled a similar network that earned tens of millions of euros.

According to Europol, from December 2017 to February 2018, the perpetrators pretended to establish a genuine online trading company, purportedly issuing a new cryptocurrency.

During the initial coin offering (ICO), they solicited at least 10 million crypto tokens in exchange for money. Investors paid using established cryptocurrencies like Bitcoin and Ethereum. The Austrian perpetrators asserted credibility by claiming to have developed a unique algorithm alongside their software for selling the tokens. Unfortunately, this turned out to be false.

Typically, an ICO relies on transparency, communicating the responsibilities of each team member to prospective investors. However, in this case, Europol noted a lack of transparency regarding team members and the cryptocurrency algorithm.



Credit: Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Solana trading bot Aqua allegedly rug pulls $4.65 million after major ecosystem endorsements

September 8, 2025

Polygon developer calls World Liberty Financial the ‘scam of all scams”

September 7, 2025

Ethereum smart contracts quietly push javascript malware targeting developers

September 4, 2025
Leave A Reply Cancel Reply

What's New Here!

Polygon Hard Fork Fixes Bug That Knocked Nodes Offline — Network Back Online

September 10, 2025

SEC delays decisions on several ETFs tied to staking and altcoins

September 10, 2025

Whales React as Price Slips

September 10, 2025

Altcoin Season Develops Through Pump.fun, Mantle, and AVAX

September 10, 2025
AsiaTokenFund
Facebook X (Twitter) LinkedIn YouTube
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
© 2025 asiatokenfund.com - All Rights Reserved!

Type above and press Enter to search. Press Esc to cancel.

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.