Greek police busted a cryptocurrency investment scam and arrested 17 people, including 9 soldiers, involving more than 8 million euros

According to Greek media Proto Thema, local police busted a gang that committed fraud in the name of cryptocurrency investment and arrested a total of 17 people, including 9 soldiers. A preliminary police investigation showed that about 10,000 people participated in the investment, with an average investment of about 800 euros per person, and the amount involved was estimated to be more than 8 million euros. The gang operates by recruiting people to obtain higher returns, and has obvious "pyramid" characteristics; it has recently frozen cash withdrawals and claimed that investors can get double returns after 50 days if they double their principal. Police have now seized around €280,000 and investigations are continuing.