{"id":77873,"date":"2023-04-26T13:25:11","date_gmt":"2023-04-26T10:25:11","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=77873"},"modified":"2025-09-11T01:44:18","modified_gmt":"2025-09-10T22:44:18","slug":"spanish-police-uncover-110-million-cryptocurrency-fraud-scheme","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/spanish-police-uncover-110-million-cryptocurrency-fraud-scheme\/","title":{"rendered":"Spanish police uncover $110 million cryptocurrency fraud scheme"},"content":{"rendered":"<p>Spanish law enforcement has uncovered an organisation responsible for a substantial cryptocurrency fraud of $110 million, according to the local publication <a href=\"https:\/\/www.majorcadailybulletin.com\/news\/local\/2023\/04\/24\/112403\/massive-global-cryptocurrency-fraud-busted-mallorca.html\">Majorca Daily Bulletin<\/a>.<\/p>\n<p>According to investigators, the perpetrators swindled more than 3,000 people worldwide out of their money through investments in non-existent digital assets.<\/p>\n<p>During Operation Mandoa, police found that the recipient of the funds was a Palma de Mallorca-based firm, which carried out separate transfers to countries outside the European Union.<\/p>\n<p>The group members allegedly lured victims into their scheme through phone calls, newspaper advertisements and SMS messages, promising high profits with little or no risk.<\/p>\n<p>After entering into contracts with clients and receiving funds, the perpetrators allegedly provided them access to a website with fake charts that demonstrated profitability. The fake brokers remained in contact with the victims until the end, urging them to invest even more.<\/p>\n<p>Police arrested only one suspect on Mallorca, linked to the fraud ring.<\/p>\n<p>As reported in March, the perpetrators <a href=\"https:\/\/forklog.com\/en\/news\/in-russia-scammers-announce-the-start-of-investments-in-a-state-cryptocurrency\">organised<\/a> a postal mailing in Russia announcing the launch of a &#8216;state cryptocurrency&#8217;. They offered to invest in nonexistent assets that purportedly allow them to make millions using cutting-edge technologies.<\/p>\n<p>In the same month, US authorities <a href=\"https:\/\/forklog.com\/en\/news\/in-the-united-states-chinese-businessman-arrested-over-1-billion-cryptocurrency-fraud\">arrested<\/a> a Chinese national Miles Go on charges of organizing a cryptocurrency-related fraud totaling more than $1 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Spanish authorities have uncovered an organisation responsible for a $110 million cryptocurrency fraud, according to the local publication Majorca Daily Bulletin.<\/p>\n","protected":false},"author":1,"featured_media":77874,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1154,1246,741],"class_list":["post-77873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crimes","tag-scammers","tag-spain"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/77873","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=77873"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/77873\/revisions"}],"predecessor-version":[{"id":77875,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/77873\/revisions\/77875"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/77874"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=77873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=77873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=77873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}