A 24-year-old Dutch law student was detained for allegedly defrauding 300 PEOPLE in a Ponzi scheme involving cryptocurrencies, amounting to losses of 4.5 million Euros. The arrest followed the submission of fresh evidence by a victim support foundation. Legal experts express concerns over the increase in crypto-related fraud incidents.

In 2024, global losses from cryptocurrency frauds reached 2.3 billion USD, marking a 40% rise from the previous year. Prominent scams included fraudulent tokens tied to media events, phishing attempts on wallet users, and AI-driven schemes. The escalating sophistication of these cons emphasizes the pressing need for enhanced industry protection.