{"id":21273,"date":"2025-02-19T10:19:01","date_gmt":"2025-02-19T08:19:01","guid":{"rendered":"https:\/\/forklog.com\/en\/four-norwegians-charged-with-80-million-cryptocurrency-fraud\/"},"modified":"2025-02-19T10:19:01","modified_gmt":"2025-02-19T08:19:01","slug":"four-norwegians-charged-with-80-million-cryptocurrency-fraud","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/four-norwegians-charged-with-80-million-cryptocurrency-fraud\/","title":{"rendered":"Four Norwegians Charged with $80 Million Cryptocurrency Fraud"},"content":{"rendered":"<p>The Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime, \u00d8kokrim, has <a href=\"https:\/\/www.okokrim.no\/omfattende-bedrageri-og-hvitvasking.6708431-549344.html\">charged<\/a> four citizens with orchestrating a cryptocurrency fraud scheme and money laundering.<\/p>\n<p>According to the authorities, the individuals operated between 2015 and 2018. They attracted potential victims by offering shares in a purportedly profitable business involved in mineral extraction investments.<\/p>\n<p>The fraudsters promoted the scheme at major conferences, allowing interested parties to invest in exchange for shares and the company&#8217;s own cryptocurrency. However, the company &#8220;made no significant investments&#8221; and did not generate profits. Investors themselves also participated in recruiting new victims.<\/p>\n<p>The scheme caused over $80 million in damages to victims worldwide. Law enforcement suspects that approximately $62 million was laundered through accounts of a local law firm and several companies in Asia.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The use of client accounts and company structures in Norway and abroad complicated efforts to trace what happened to the money,&#8221; noted \u00d8kokrim.<\/p>\n<\/blockquote>\n<p>Lawyers for two of the individuals stated that their clients deny involvement in the scheme.<\/p>\n<p>The court hearing is scheduled for September and will last 60 days.<\/p>\n<p>Earlier reports from Chainalysis experts indicated that in 2024, losses from fraud in the crypto industry exceeded $9.9 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime, \u00d8kokrim, has charged four citizens with orchestrating a cryptocurrency fraud scheme and money laundering. According to the authorities, the individuals operated between 2015 and 2018. They attracted potential victims by offering shares in a purportedly profitable business involved in mineral extraction investments. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21272,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[44,1498,1246],"class_list":["post-21273","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cybercrime","tag-norway","tag-scammers"],"aioseo_notices":[],"amp_enabled":true,"views":"219","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21273","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=21273"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21273\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/21272"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=21273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=21273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=21273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}