Europe Dismantles €700M Crypto Fraud Ring That Used Deepfake Ads, Arresting Nine in Major Cross-Border Sting

europol.europa.eu •

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"The criminal network operated numerous fake cryptocurrency investment platforms, luring thousands of victims with sophisticated advertisements promising high returns. The victims were then repeatedly contacted by criminal call centres, where callers used social engineering to pressure victims into making further payments by showing them inflated returns on fake trading platforms. Once victims had transferred their cryptocurrency, the funds were stolen and laundered across various blockchains and cryptocurrency exchanges. As investigators peeled back the layers of the operation, it became clear that the network had grown far beyond a single fraud scheme, involving multiple fraudulent platforms and sophisticated financial infrastructure spanning Europe and beyond."

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Europe Dismantles €700M Crypto Fraud Ring That Used Deepfake Ads, Arresting Nine in Major Cross-Border Sting

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Meta tolerated widespread ad fraud from China to protect billions in revenue, internal documents show, even as the company found that up to 19% of its $18 billion China ad business came from scams and banned content.

US prosecutors expanded charges against crypto promoter Rodney Burton over the $1.8B HyperFund fraud, citing wire fraud, money laundering, and flight risk after bail denial.

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Hollywood filmmaker Carl Erik Rinsch scammed Netflix out of $11 million and blew the cash on crypto memes making some profits with Dogecoin

Comments

Total stats

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Meta tolerated widespread ad fraud from China to protect billions in revenue, internal documents show, even as the company found that up to 19% of its $18 billion China ad business came from scams and banned content.

US prosecutors expanded charges against crypto promoter Rodney Burton over the $1.8B HyperFund fraud, citing wire fraud, money laundering, and flight risk after bail denial.

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