Unfortunately, fraud is not a rarity in the crypto world.
A few weeks ago, Trijo News reported on an event in South Africa where angry people burned down a suspected crypto fraudster’s house.
Now, another suspected fraud has been revealed, this time in Brisbane, Australia.
More than 100 people have been scammed for a total of $1.83 million after being promised big profits on investments in bitcoin made by the company, according to a press release from the local police.
Those affected are reportedly primarily retirees. The suspected fraud was revealed after some of the victims could not withdraw their money.
Five people have been arrested and these are now at risk of 20 years in prison each for, among other things, fraud, money laundering, and organized crime, the Brisbane Times reports.
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