Police Arrest Crypto Entrepreneur For Allegedly Conducting Fraudulent Activities To The Tune Of $25 Million
Police Arrest Cryptocurrency Entrepreneur After Allegedly Conducting Fraudulent Activities
According to a recent report released by De Gelderlander, Dutch police have arrested a former entrepreneur after allegedly conducting fraudulent activities. As per the news site, the fraudster conned investors in a fake Bitcoin (BTC) mining operations involving €23 million.
Police Arrest Individual Accused Of Fraud
A Dutch individual called Barry van Mourik, who was working with different cryptocurrency companies, was arrested after allegedly deceiving clients into thinking they could earn money through Bitcoin mining. Van Mourik has also been running another crypto company that was also reportedly scamming users.
Although investors were providing funds to the scammer, he failed to purchase any equipment. Indeed, he apparently spent the funds in luxury items.
Police raided his home back in November and seized several luxury items. Koinz Trading, the other company, was also declared bankrupt in February 2019. As per the reports, the investments received by the user topped €100 million. Van Mourik earned €2 million.
There are different cryptocurrency scams and fraudulent schemes that are being reported by users around the world. Scammers and thieves are getting more and more sophisticated in the methods used to steal funds from investors.
We have recently reported at Bitcoin Exchange Guide that a recognized engineer, called Sean Coonce, lost $100,000 from his Coinbase account when an attacker hijacked his SIM card and had access to his account. The attacker then withdrew his digital assets and purchased more with the fiat currency he had on the platform.