PANews reported on October 3 that the Greek police recently successfully busted a cryptocurrency investment fraud gang and arrested a total of 17 suspects, including 9 soldiers. The investigation showed that the amount involved in the gang exceeded 8 million euros, and there were about 10,000 victims, with an average loss of about 800 euros per person.
The gang operates through a "pyramid"-style pull-in model and uses high returns as bait, claiming that investors can double their principal within 50 days. Recently, the gang has committed fraud by freezing the withdrawal function. Currently, the Greek police have seized approximately 280,000 euros of funds involved in the case, and relevant investigations are still ongoing.