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May 8, 2024

Austrian Authorities Uncover and Dismantle International Crypto Scam Involving Millions in Fraudulent Activity

In a major development in the fight against cryptocurrency fraud, the Austrian Cybercrime Competence Center (C4) of the Federal Criminal Police Office, in collaboration with the Public Prosecutor's Office for Economic Affairs and Corruption (WKStA), has brought down a notorious international scam operation known as LoopX. The extensive investigation, which led to the arrest of six individuals, has exposed a sophisticated exit scam that has swindled investors out of millions of euros.