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₿ Crypto Fraud

What is Crypto Fraud?

Cryptocurrencies are digital currencies that use cryptography to generate "tokens" and verify transfers between people. They are known for high market volatility, which means that the value of an investor's assets can rise and fall quickly. Criminals take advantage of the unregulated nature of cryptocurrencies to scam consumers.

Common Scenarios:

Schemes promising high returns through cryptocurrency investing or "mining".
Official-looking advertisements, including celebrity endorsements or personal stories — often without the knowledge of the celebrities whose names or photos are used.
Frequent social media ads enticing victims with quick and easy profits.
Exploiting crypto market turbulence to convince people to part with their money quickly, presenting the moment as the "right time to enter the market".
Some victims do not realize it is a scam for a long time — making repeated or regular payments, only realizing when they try to withdraw their money from the "scheme".

How to Protect Yourself?

Conduct thorough research — check if the company has a clearly stated registration number so you can verify it in the Commercial Register.
Most cryptocurrencies are not regulated by a financial supervisory authority, which means they are not protected by a compensation scheme. In case of fraud, it is unlikely you will get your money back.
Even if friends or relatives invest, it does not necessarily mean it is safe. You cannot request a chargeback as you would with a credit card.
An aggressive, vague, and/or unrealistic approach, incentives to purchase before a certain deadline, and minimum order levels can be signs of fraud. Most reputable exchanges do not use such tactics.

Examples

Real Case: Fraudulent investment scheme in Plovdiv managed by "AI" — A 48-year-old man was detained after committing a series of financial abuses through a scheme presented as a high-yield cryptocurrency investment managed by "artificial intelligence". 10 victims were affected, with total damages exceeding €415,000. The perpetrator promised guaranteed returns of 15–20% monthly, showed fake "dividends" at the beginning to gain trust, and used psychological pressure by implying a "unique opportunity" to get rich quick.
- Quick Tip: Guaranteed monthly returns without risk are a sure sign of fraud — real investments always carry risk.
Real Case: International scheme worth over €100 million — Eurojust coordinated a large-scale operation in Bulgaria, Spain, Portugal, Romania, and Italy against a fraudulent cryptocurrency investment scheme operating since at least 2018 across 23 countries. Investors (over 100 people from Germany, France, Italy, and Spain) were persuaded to invest through professionally developed online platforms. When attempting to withdraw their funds, they were asked to pay additional fees, after which the platforms were deleted.
- Quick Tip: If a platform requests a new fee to access your own money – stop immediately, it is a sure sign of fraud.

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