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Police Return Nearly $5 Million to Victims of International Cryptocurrency Fraud

In a heroic cryptocurrency case solving case, UK police returned more than $5 million to victims of an international cryptocurrency scam. Greater Manchester Police (GMP) said in a statement that it had returned 23 verified victims of their 'cheated' cryptocurrency value.

The GMP confirmed that more than 127 claims from around the world are pending. The force stated that after investigation and verification, they would return their 'hacked' value to legitimate users' wallets.

How did the international crypto fraud racket operate?

The scammers created a similar looking trading site that mirrors Binance. Credulous investors believed the site to be authentic. Investors deposited their money into what they thought was an online savings and trading account. The scammers closed the site after a group of users deposited a significant amount into the account.

The scammers then transferred the amount to your bank account. They re-operated again for the next batch of victims. Also, the thieves did not disappear after embezzling the money. Instead, they repeated the feat several times.

UK police have received a tip that scammers are operating in Manchester for a limited period. They tracked the scammers through IP addresses. The police invaded your operating space.

GMP recovered a USB stick. It contains around $9.5 million worth of stolen Ethereum. An additional $12.7 million worth of ETH was found a few days later, stored in a “cryptographic vault”.

A 23-year-old man and a 25-year-old woman were arrested in connection with this cryptographic fraud. Police are looking for several others involved. The investigation is still pending.

“This type of crime is increasing all over the world. Criminals are getting smarter by finding ways to exploit the trend in ways even the most experienced users cannot predict. The Economic and Cyber ​​Crimes Unit is working daily to deal with this growing number of cases in the digital and online world,” he said. he said Detective Chief Inspector Joe Harrop.

“Scammers operating the service waited until a significant amount of money was deposited, before closing the site and transferring the funds to their accounts. Unfortunately for them, the scammers did not disappear without a trace,” he said.

About the author


I am CBC, I am a Crypto expert and a part-time blogger. I usually write about how and where to buy crypto coins in legit ways.

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