EOCO, EUROPOL FREEZE $15.1 MILLION IN CRYPTOCURRENCY LINKED TO INTERNATIONAL INVESTMENT SCAM
A Chinese-Malaysian criminal syndicate is alleged to have defrauded victims in Ghana and the United Kingdom of an estimated $15.1 million through a fake online investment platform, according to investigators.
The Economic and Organised Crime Office (EOCO), working in collaboration with Europol and using advanced blockchain tracking technology, successfully traced the movement of the stolen funds and identified the suspected perpetrators.
Authorities say the criminal network lured victims with promises of lucrative returns on investments through a fraudulent online platform. Once funds were deposited, victims allegedly found themselves unable to access their money or withdraw their supposed profits.
Through a coordinated international operation, investigators tracked the proceeds of the scam as they were moved through cryptocurrency channels in an apparent attempt to conceal their origin.
EOCO and its international partners subsequently froze the cryptocurrency assets before the suspects could withdraw or transfer the funds, dealing a major blow to the alleged fraud ring.
