The police recently arrested three Dutch people in a cryptocurrency scam. The police announced this on June 4:
A 39-year-old man from Deventer was arrested, as well as a 22-year-old man from Apeldoorn and also in Zaandam, a 41-year-old man was arrested and a shed was searched. As the suspected owners of cryptocurrency exchange Coinhouse.eu, they are suspected of embezzlement and scams.
The 39-year-old suspect is accused of a so-called pump & dump scam. First he advertised his own crypto via Twitter and a forum. Then, after the investment came in, the crypto was suddenly dumped on the market, aka sold. As a result, the price completely collapsed and the investors lost their money.
In the industry, we usually call this an exit scam. Stackatoshi.com always recommend that you do good research before making the decision to invest and to stay away from these kind of pump & dumps.
“Investing in crypto coins has been done more and more lately. This also ensures that malicious parties get involved. People who want to make a quick buck and leave the unsuspecting investor with the losses. Also in crypto trading, if an investment sounds too good to be true, it probably is.”
According to the police press release. During the investigation, several vehicles, computers, crypto and a house were seized. The man from Deventer is also suspected of fraud with QR codes. Investors who believe they have been scammed by Coinhouse.eu can report this via 0900-8844. Police say more arrests are not ruled out.