Greek Police Uncover $9 Million Crypto Pyramid Scheme
- Seventeen suspects were arrested on Sept. 30 for their involvement in a $9 million cryptocurrency pyramid scheme.
- The scheme, operated by AT Team Greece, allegedly defrauded over 10,000 investors using false claims of AI trading with stablecoins USDT and USDC.
- The group created a facade of legitimacy with physical branches and public events across Greece.
- Authorities seized $330,521 in cash and significant digital evidence during raids on multiple locations.
- Investors were promised their money would double within fifty days but were barred from withdrawals before the platform froze operations entirely.
The Greek police have dismantled an alleged crypto pyramid scheme that defrauded thousands under the guise of an AI-powered investment platform. The operation saw substantial financial gains laundered into offshore accounts while investors’ funds remained inaccessible due to frozen withdrawal functions.
This case highlights the ongoing risks associated with unregulated cryptocurrency investments promising high returns without oversight, emphasizing the need for investor vigilance and regulatory scrutiny in the crypto market. (Source)
