Fast profits, high losses: Zwickau is fighting crypto fraud!

Fast profits, high losses: Zwickau is fighting crypto fraud!

In the Zwickau region, alarming cases of crypto fraud have accumulated, and the victims are now available at dizzying heights. In Werdau alone, investors had to cope with a loss of 62,000 euros, while a total of 135,000 euros were lost in Zwickau. Those affected in Glauchau hit it particularly badly: there the loss adds up to an incredible 400,000 euros. The fraudsters use effective tricks to lure investors into their traps. An example from Glauchau shows how dangerous these mesh are: an investor put 35,000 euros in a supposedly promising financial platform, only to lose 400,000 euros in the end. Access to his software was made possible by alleged employees of the platform - a fatal mistake, as it turned out reports the free press .

Why are many people so susceptible to these frauds? Often it is newcomers who, due to lack of specialist knowledge and a confusing market situation, easily fall for the bait of the fraudsters explains Krypto-Directory . In social media, especially in Messenger groups, supposed crypto experts are often presented to pushing investors into risky investments. The prospect of quick profits and the pressure within the group can lead to many to get involved in shaky business. Typical warning signals are, for example, dubious SEC registrations, which are often not verified, and newly founded websites without history that do not offer customer service. Transfers abroad to questionable companies are also a red signal.

The dimension of the problem

The dimension of the problem is alarming. Worldwide, the damage by crypto fraud adds to around 70 billion euros, and new victims in Germany are reported daily reports the Tagesschau . Psychological manipulation is a fraudster that is frequently applied. A terrifying example is Abdus S. from Bangladesh, who worked as a cybers slave in Cambodia and had to tempt his victims with fake relationships with crypto investments. The term "Pig Butchering" describes this unscrupulous method in which fraudsters systematically target their victims.

The hunt for these criminals is extremely difficult. International investigations are often required because many fraud cases are operated abroad. Nevertheless, there is progress: The Bavarian Ministry of Justice has made an agreement with Interpol to improve international cooperation to combat crypto fraud. Also attempted at the European level to take a cyber sanction regime against the perpetrators, which requires strict criteria for the listing.

How to protect yourself

It is crucial for investors to find out about the risks of the crypto market and to recognize possible fraud stitches at an early stage. Crypto directory advises to be attentive and support support only from transparent and reputable providers. If you are looking for information, you should also consult reviews and warning lists and be aware that realistic return expectations are always the best strategy.

FAZIT: Crypto fraud is a topic that not only presents newcomers but also experienced investors with challenges. Provide calm and collect information is the first step if the suspicion of fraud arises. In such a case, it is advisable to immediately take legal action and inform the police.