A massive police operation took place in Istanbul, Turkey against the crypto fraud of a Chinese gang. Authorities found that criminals kidnapped 101 people and forced them to perform fraudulent operations.
Scammers have tricked hostages by promising them to work for a legitimate crypto investment consultancy.
According to Demirören Haber Ajansı, the Istanbul police knocked down a fake crypto investment advice agency that allegedly hired these 101 people to run the program. In reality, the gang turned out to be a massive criminal operation as they held employees hostage in mansions across the city.
According to the investigation, 18 Chinese nationals suspects are involved in the gang, who are computer engineers and programmers, and have promised hostages a job in their scam.
The scam posted online ads with texts like “Give us your virtual money, we’ll win twice and give it back to you”. The Public Security Division’s extortion office team deployed 100 police officers to crack down on the gang.
In addition, crypto scam masterminds brought hostages from Kazakhstan, Turkmenistan and China on tourist visas.
Gang operators owned nine villas in Istanbul
The authorities also released all abducted people and arrested the 18 suspects. Six of them were transferred to a courthouse, while the others are not allowed to leave the country.
The Turkish police (Directorate-General for Security) said that two Chinese hostages had informed the Chinese consulate of the situation, which then reported the crypto fraud to the Istanbul authorities.
The police seized 112 computers, 677 SIM cards, 712 cell phones, $ 200,000 in fiat currencies, 43 debit and credit cards. Investigators also said the gang owned nearly nine mansions outside of town.
Even so, despite their conditions, the prisoners received compensation for their work. For every Anadolu Ajansı, each worker earned almost $ 1,000 a month. However, the hostages cannot spend any of this money as they could not leave the villas. In fact, the kidnappers confiscated their passports.
What do you think of this massive crypto scam in Turkey? Let us know in the comments below.
Photo credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or an invitation to submit an offer to buy or sell, or a recommendation or approval of products, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use or reliance on any content, goods or services mentioned in this article.