According to research, a crypto fraud network; victims stock, NFT and cryptocurrencies He stole millions of dollars by pretending to be a bank trying to persuade him to buy it.
CryptoLabs The scam network allegedly targeted French-speaking people with more than 300 fraudulent organizations ranging from crypto, fintech to traditional banks. Just one investor announced that he lost $ 1.6 million to the ponzi network.
Researchers of the financial-security analysis company Group IB have published a report on the emergence of CryptoLaps. Experts explained the amount of money stolen by fraudsters in their report.
“The ponzi scheme called CryptoLabs has embezzled $500 million in assets from victims since its inception. The scam network has a broad hierarchy of mobsters, sales networks, and call center operators.”
Good Interface Doesn’t Mean “Safe”!
Group IB researchers noted that the network operates over the internet. CryptoLabs developers have created a very clean and understandable interface to gain the trust of their victims. The network also tried to gain the trust of investors with its so-called investment advisors.
Group IB Europe Cyber Security Officer Anton Ushakov announced that the fraud gang has been operating since 2018. Usakhov warned people, announcing that the network mainly targets investors residing in France, Belgium and Luxembourg.
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