Europol shuts down €50M crypto recovery scam network
Austrian and Albanian police arrested 10 people and shut down fraudulent call centers in Tirana. The call centers allegedly defrauded victims of ~€50 million through fake investment schemes and crypto recovery fraud. Europol and Eurojust worked together on the operation, after a two-year investigation into a criminal network operating out of Albanias capital. Authorities seized ~€900,000 in cash along with large quantities of IT equipment. The call centers operated like professional businesses, employing as many as 450 people across departments, including IT and human resources. Individual operators earned ~$938 per month in salary plus commission. Workers were organized by language specialization, targeting victims in specific markets. They built trust with potential victims before pitching fabricated investment opportunities and persuading them to transfer funds. Eurojust wrote, “The online call centers run by the criminal network demonstrated a high level of organization and professionalism.” According to Europol, some victims were hit twice. After losing money in the initial fraud, they were contacted again and offered help in recovering their stolen funds. The supposed recovery service required victims to open crypto accounts and deposit an initial 500 euros. “Alarmingly, the perpetrators re-contacted victims who had already suffered losses through fraudulent platforms, offering to help them recover their funds,” wrote Eurojust