PANews reported on September 23rd that, according to AFP, Eurojust, the EU's judicial body, said on Tuesday that European authorities have uncovered a cryptocurrency scam that defrauded over 100 victims of at least €100 million (US$118 million). Police raided residences in Spain and other countries, arresting five suspects, including the mastermind. Victims were promised huge returns by investing in cryptocurrencies on a specialized online platform, with the funds then laundered in Lithuania. Upon withdrawing their investments, victims were required to pay additional fees, after which the fraudulent website disappeared, leaving many investors with significant losses, some even completely wiped out. The scheme, which dates back to at least 2018, involved approximately 23 countries, with victims hailing from Germany, France, and other European nations. The main perpetrators are suspected of large-scale fraud and money laundering. The raids were conducted last week, but due to legal procedures in various countries, information was not released publicly until Tuesday.PANews reported on September 23rd that, according to AFP, Eurojust, the EU's judicial body, said on Tuesday that European authorities have uncovered a cryptocurrency scam that defrauded over 100 victims of at least €100 million (US$118 million). Police raided residences in Spain and other countries, arresting five suspects, including the mastermind. Victims were promised huge returns by investing in cryptocurrencies on a specialized online platform, with the funds then laundered in Lithuania. Upon withdrawing their investments, victims were required to pay additional fees, after which the fraudulent website disappeared, leaving many investors with significant losses, some even completely wiped out. The scheme, which dates back to at least 2018, involved approximately 23 countries, with victims hailing from Germany, France, and other European nations. The main perpetrators are suspected of large-scale fraud and money laundering. The raids were conducted last week, but due to legal procedures in various countries, information was not released publicly until Tuesday.