Ten Israeli suspects arrested for involvement in cryptocurrency fraud scheme

Ten scammers were arrested for participating in a cryptocurrency scheme that scammed investors for 6 million euros (about $ 6.6 million). French and Belgian authorities today said they have smashed an Israeli-based organized criminal group that has lured 85 unsuspecting investors in both countries to invest in Bitcoin and other altcoins. The indictment describes the defendant's use of a well-designed strategy to seduce the victim with a return on investment of up to 35%.