The European Union Agency for Law Enforcement Cooperation (Europol) executed six arrests in connection with an investigation into an international $27 million heist that scammed victims into depositing funds at a fake crypto exchange.
In a joint effort between Europol, UK’s South West Regional Cyber Crime Unit, and Dutch police, the five men and one woman were arrested in their homes across the two nations after a 14-month long investigation.
The $27 million figure given is expected to grow as more victims come forward. Currently, at least 4,000 victims across 12 countries have suffered losses, according to law enforcement estimates.
Information about the massive crypto crime ring remains scant. Europol states that the gang was running a website that impersonated a “well-known online cryptocurrency exchange.” It is unknown which exchange it was.