The Spanish authorities have dismantled a sophisticated cryptography investment scam which has frauded more than 200 victims out of more than 19 million euros ($ 21.5 million), using artificial intelligence to attract investors with false mentions of celebrities.
The two -year investigation led to the arrest of six people across Spain, according to a press release from the Spanish national police.
Crypto Scam Probe launched after Granada Man loses € 624,000 in fraud
The survey began when a pomegranate man said he lost € 624,000 ($ 700,000) in alleged cryptography investment fraud.
From there, the authorities discovered a wider diagram that used videos generated by the AI of public figures well known to convince people without distrust of investing in what seemed to be a high return cryptographic enterprise.
To support the illusion, the authors told the victims that additional payments were necessary to unlock their initial investments, thus perpetuating fraud.
Police did not specify which cryptocurrencies were involved, but warned citizens to be cautious with high digital asset diets.
The alleged chief of the criminal operation was arrested while trying to flee from Dubai.
The suspects, aged 34 to 57, are now faced with accusations of fraud, money laundering and documents.
The police have not yet confirmed if one of the stolen funds had been recovered and the investigation remains underway.
The case highlights a growing trend in Crypto -related scams, where deep videos generated by AI and diverted celebrities identities are increasingly used to promote fraudulent investments.
Similar scams have been increasing, criminals exploiting public confidence in recognizable figures to push coins or pump and pumping diets.
This week, the guitarist of Guns N ‘Roses Slash announced his departure from the social media platform X after his account was compromised and used to promote a false cryptography program.
Last month, the Wather Watcher of Crypto News Outlet. Guru confirmed that his official X account had been hacked after a false post on a potential agreement between Ripple and Swift distributed on his social networks, potentially affecting XRP.
The incident occurred in the midst of a broader trend of crypto social media hacks, many of which are used to pump newly launched coins.
In February, Dior’s Instagram account was diverted to promote a false token -based token, which briefly reached a market capitalization of $ 280,000 before hunting 90%.
Last week, Kaito AI, a platform focused on artificial intelligence providing an analysis of the cryptographic market, and its founder, Yu Hu, were also targeted in a social media piracy on X.
The pirates took control of the account and falsely claimed that Kaito AI portfolios had been compromised, warning users that their funds were in danger.
In February 2025, losses in the cryptography ecosystem increased by 20 times a month compared to January 2025, according to the latest report of the large Immunefi blockchain safety platform.
In January, the losses recorded amounted to $ 73,915,700. A month later, this figure increased to $ 1,528,342,400. The latter is the result of nine hacks.
In addition, the February number is an increase of 18x compared to the same period a year earlier. In February 2024, the losses recorded were $ 81,603,400.
The Spanish post of the Spanish police bust of the cryptographic scam fed by AI which defrauded the victims of 19 million euros appeared first on Cryptonews.
