Greece | 17 people were arrested in a cryptocurrency investment fraud case amounting to about $8 million | CUAC

Civil Union - Follow-ups The Greek police announced the dismantling of a criminal organization suspected of involvement in investment fraud under the guise of investing in cryptocurrencies, and the arrest of 17 people, including 9 members of the armed forces, according to what the Greek authorities announced on October 2, 2026. According to investigations, the group was running a pyramid scheme through companies and an electronic platform, attracting people to invest through promises of high and guaranteed returns, including doubling the capital within 50 days, while presenting the investments as low or risk-free. The police said that the organization succeeded in attracting at least 10,000 people, while the money that flowed to the platform was estimated at about $8 million. The security operation, which came after an investigation that lasted several months, resulted in the arrest of 17 people, including two people suspected of being the main leaders of the group, while nine other people were included in the case file. During the searches, which included five offices, nine homes and other places, the authorities confiscated 295,090 euros, along with dozens of phones, computers, data storage media, bank cards and other electronic equipment. So far, the authorities have identified 18 victims who participated in the platform and invested a total of 55,970 euros, according to the official statement of the Greek police. The detainees were referred to the Katerini Public Prosecutor, who in turn referred the case to the investigating judge to take the necessary legal measures. The case highlights the dangers of fictitious investment schemes that exploit cryptocurrencies and promises of high financial returns to attract victims, and stresses the importance of verifying the licenses of investment platforms before transferring funds to them, and strengthening oversight of digital financial activities to reduce fraud and money laundering. Source: ERTnews.