PANews reports on April 12th that according to Decrypt, Spanish police arrested six individuals during a two-year operation, dismantling a cryptocurrency investment fraud gang. The gang used artificial intelligence to scam 208 people, totaling over 19 million euros (21.5 million USD). Authorities stated that the suspects created convincing celebrity videos using AI technology, promising massive returns through crypto investments to lure potential investors. The suspects have been charged with fraud, money laundering, and falsifying documents, with the investigation still ongoing.
Spanish police bust $21 million cryptocurrency scam
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