Twelve arrested over Greek crypto fraud exceeding €14.5 million
An international network allegedly deceived investors with worthless tokens and promises of safe, high returns since 2019. Police traced money across several countries.
Greek police announced twelve arrests on 6 March 2026 after raids the previous morning in Crete, Attica and Igoumenitsa. The network allegedly ran a Ponzi scheme through companies and online platforms, paying earlier investors with newcomers’ money. Investigators identified 73 victims with at least €760,900 in documented losses.
Financial investigators estimate unlawful proceeds above €14.5 million. Assistance was sought from France, Germany, Malta, the United Kingdom, Ireland and others. Funds allegedly moved to foreign accounts and cryptocurrencies. Besides the twelve arrested, six others appear in the file concerning suspected organised fraud and money laundering.














































