Greek Organized Crime Unit carried out coordinated raids across Crete, Attica and Igoumenitsa, arresting suspects in a multi‑year Ponzi‑style cryptocurrency investment scheme. Authorities say perpetrators used events, social media and controlled trading platforms to sell worthless tokens and launder proceeds through offshore companies and crypto wallets.

Greek authorities’ Organized Crime Unit in Crete executed coordinated searches and arrests across multiple regions, including Crete, Attica and Igoumenitsa, in a crackdown on an international cryptocurrency investment fraud ring. Investigators allege the group ran a Ponzi‑style operation for several years, recruiting investors through staged event presentations, aggressive social media promotion and proprietary platforms that purportedly traded tokens with high returns. According to official reports, the tokens sold to victims had little or no value and investor funds were moved rapidly through a network of offshore companies, convertible crypto wallets and intermediaries to obscure ownership. Seizures reported by police included substantial cash, luxury vehicles, firearms and crypto‑mining or transaction hardware. Authorities emphasized cross‑border cooperation and forensic blockchain tracing in identifying beneficiaries and financial flows. The operation remains under active investigation with prosecutors pursuing asset freezes, additional arrests and international legal assistance requests to recover investor losses and dismantle the laundering infrastructure supporting the scheme.