Spanish authorities arrested six people who helped operate global AI -based investment fraud, which stole more than $ 20 million from more than 208 victims.
The frauders turned the victims up to three times. The frauders stealed the initial amount through investment fraud, contacted the victims twice, pretended to be invested as an investment manager, and proposed to recover the stolen funds as an authority, the Spanish police said in a April 7 statement.
The frauders have used Deepfake advertisements of “national personality”, which promises high return on encryption investment, and sometimes can cause romantic interest to seduce financial torture or victims.
Experts have warned of an increase in AI-Enhanced fraud. The Blockchain Analytics Company Serial Chain said on February 13 that the 2024 cryptographic fraud revenue 2024 reported that the production AI is making it possible to expand the fraud and to perform cheaper actors.
6 people using € 19 million #Artificial #inteligencia
They improved the victims through the manipulated advertising #ia Invest together #criptomonedas Perhaps in a very profitable product pic.twitter.com/rmrdgbpoyz
-The National Police (@Policia) April 7, 2025
Spanish police said, “The victims were not randomly chosen. Instead, algorithms chose algorithms that matched the search of cyber criminals.”
“After choosing a victim, they are placed on a website or social network using the advertising campaign to provide a cryptocurrency investment that is not risk of high yield and asset loss.
According to the Spanish police, most of them realized that it was a scam when the victim could not withdraw its funds. But Rus did not end there.
The scammer will deceive the victims as a follow -up fraud.
Cyber criminals insisted that they could contact the victims again, pose as an investment manager, stolen the stolen funds, and can be recovered by paying a deposit.
Spanish police said, “The victims finally deposited without realizing that they were cheated again, hoping to restore money.”
Scammers will be the third to contact the victim. This time, he poses as an EUROPOL agent or a lawyer in the UK and suggested that he would return the stolen fund if he paid the tax in a country where the victim was blocked.
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The Spanish authorities arrested six people related to Sindi Kate and claimed to be fraudulent, money laundering and counterfeit documents in a criminal organization.
Spanish authorities seized numerous mobile phones, computers, hard drives, simulation weapons and extensive documents while attacking the leader behind the scam.
Some people related to the conspiracy have been confirmed in other countries, and Cindy Kate has created a large number of fake companies to collect stolen funds.
Spanish police said, “The members of the organization have used several false identities. For example, leaders have used more than 50 identities.”
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