69-Year-old Frenchman Arrested for Alleged $592k Bitcoin Fraud

Greek authorities have caught up with a Frenchman allegedly guilty of bitcoin fraud. Although the name was withheld, the 69-year-old has reportedly been on the International Criminal Police Organization (INTERPOL) wanted list of fraudsters since 2018, the year he committed the fraudulent act.

After France issued a red notice for his arrest, investigators at the Athens police’s downtown headquarters made a swift response to the urgent notice and were able to capture and apprehend the Frenchman in the early morning hours of Thursday, 5th of August, 2021. 

The alleged bitcoin fraudster cheated a good number of people during the spring of 2018 by pretending to be a cryptocurrency broker, posing as a middleman between the buyers of bitcoin and a cryptocurrency exchange provider.

Sadly, many people fell victim to his false pose and he was able to rip them 500,000 euros ($592k) in total. He is set to face prosecuting counsel this week and could be fined heavily or even jailed as per the report.

Considering the present worth of Bitcoin, it is no surprise that there are now more cases of Bitcoin fraud happening now than a decade ago. Unfortunately, many people still fall victim to these scams, despite repeated alerts and information on how bad actors operate.

The development is only one of several cases of Bitcoin fraud that have been reported in recent times. Last month, a 49-year old man, Jorg Molt, who claimed to be Satoshi Nakamoto, Bitcoin’s inventor, was arrested for defrauding investors of $2 million worth of cryptocurrency.

Coinfomania also reported that another fake Satoshi Nakamoto, but this time around, one Claudio Oliveira was arrested for using his fake identity to dupe customers of approximately $300 million.

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