Greek police dismantle cryptocurrency fraud ring with many military members arrested

Greek security forces in Κατερίνη have dismantled a criminal organization that operated a cryptocurrency investment platform, convincing people to fund it and then withholding their capital. The network maintained offices in Κατερίνη, Θεσσαλονίκη, Λάρισα, Πάτρα and on islands of the Δωδεκανήσου, employing a pyramid model where recruiters earned bonuses from senior leaders. Police have arrested 17 individuals so far, including nine members of the armed forces and two non-commissioned officers who acted as leaders.

Searches of homes and offices yielded cash, numerous electronic storage devices and related paperwork. The investigation, which began after the scheme had been active for at least a year, remains ongoing, with further statements expected from the Ελληνική Αστυνομία.