Cryptocurrency crook finally arrested

Suspected cryptocurrency scammer arrested on Spain’s Costa del Sol. Credit: Photo by Executium on Unsplash

Costa del Sol: Cryptocurrency con artist finally arrested.

The crypto scammer is said to have lived a life of luxury in Spain.

A suspected cryptocurrency fraudster, who the Guardia Civil described as “one of the biggest cryptocurrency scammers based in Spain” and who had been on Interpol’s wanted list since 2015, was ultimately arrested in Latvia.

The Latvian man, who is believed to have defrauded his victims over € 500,000, is said to have lived a life of luxury on the Costa del Sol, staying in exclusive hotels and villas, eating in expensive restaurants and shopping designer clothes, according to a statement from the Guardia Civil. read.

The man duped more than 1,000 people after having invested his victims in a new virtual currency known as “Hodlife, the Unicorn Token”. The victims would have been promised a share of the commissions taken on transactions using the cryptocurrency.

The Guardia Civil said: “To publicize the project, the arrested man used the most popular digital communication channels to organize aggressive advertising campaigns on Twitter, Telegram and on a bespoke webpage.

“He quickly built up a large community of users who, thanks to the messages sent from these platforms, were tricked into depositing their crypto-currencies into the new business.

“Agents on the trail of the suspect discovered the upscale lifestyle enjoyed by him and his accomplices,” the statement said. “They lived in luxury villas that cost over € 1,000 a day to rent, they rented high-end cars and spent huge sums of money in designer clothing stores and the best restaurants in town. Costa del Sol. ”

The Latvian man – believed to be Lithuanian at first – and his accomplices used various internet connections alternating between villas and hotels in Malaga to transfer the stolen funds to their own crypto wallets.

The statement continued: “Once his identity was established without a doubt, the Guardia Civil activated all relevant mechanisms of international police cooperation and tracked down the fraudster across different countries while he was renting cars and mansions and got credit cards and bank accounts with false documents.

As investigators delved into the past of the Latvian suspects, it was revealed that the United States issued a search, arrest and extradition warrant against him in 2015 – again for alleged fraud.


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