Spanish police smashed an "AI+crypto" fraud gang with about $21.5 million in stolen money

According to a statement from the Spanish National Police, Spanish authorities have dismantled a complex crypto investment scam that used artificial intelligence to create fake celebrity endorsements, defrauding over 200 victims of more than 19 million euros (21.5 million dollars). The investigation began when a man from Granada reported losing 624,000 euros (700,000 dollars) in an alleged crypto investment fraud. The scam gang used AI-generated videos of well-known public figures to convince unsuspecting individuals to invest in seemingly high-return crypto enterprises and request additional payments to unlock their original investments. The alleged ringleader was reportedly arrested while attempting to flee to Dubai, and 6 suspects aged between 34 and 57 are now facing charges of fraud, money laundering, and document forgery.