Police Shut Down Fake Trading Platform That Scammed Hundreds

Police in Europe have shut down a fake online trading platform that scammed hundreds of victims out of €3 million in a coordinated global operation involving five countries.

A fake online trading platform that defrauded victims of more than €3 million (around $3,000,000 has been shut down following a coordinated international operation involving five countries.

Authorities from Germany, Cyprus, Albania, the UK, and Israel worked together, supported by Europol and Eurojust, to dismantle the criminal network and arrest a key suspect in Cyprus. They also managed to seize “crucial evidence.”

The scam, which targeted more than 100 known victims and likely many more, lured people in with the promise of quick, high returns through online investments. Victims were first convinced to transfer small amounts of money, reassured by fake charts showing fictional profits.

As trust grew, so did the pressure. Fake brokers used psychological tactics to push victims ...