Four men have been charged in Norway for a fraudulent scheme that deceived investors out of 963 million NOK (approximately 86.5 million USD) between March 2015 and November 2018.

The accused operated a Ponzi scheme under the guise of selling investment packages featuring cryptocurrencies, offering false high returns to victims located across various countries.

As fraud involving cryptocurrencies becomes more common, regulatory experts emphasize the need for stringent measures to protect investors and combat these sophisticated scams.