Categories: Market

Europol dismantles the Ponzi Vitae system and recovers 1.5 million euros in cryptocurrency

Europol, the EU law enforcement agency, has cracked down on Vitae, a Belgian Ponzi scheme advertised as a social media website with its own cryptocurrency. Vitae operates as VITAE AG in Switzerland. Law enforcement officials raised € 1.1 million in cash and € 1.5 million in crypto.

Europol “records” Vitae

Together with the Belgian Federal Judicial Police, Europol is organizing a joint criminal investigation against a group of people who use the Vitae platform to implement a Ponzi scheme under the jurisdiction of the Belgian Federal Prosecutor’s Office. The investigators searched 17 houses involved, mainly in Antwerp, West Flanders and Limburg. The Swiss police also carried out other searches.

Five people were arrested on charges of participating in the Vitae program. Europol has also closed the website and warned of its content, which is now illegal under Belgian law. The investigations are secret and little is known about the raids, so that the alleged perpetrators cannot evade the action.

Vitae acts as a data protection-oriented social network with its own cryptocurrency token. It is advertised as a monetization platform for top posts receiving Vitae tokens with high quality content. The website has more than 200,000 users. As a result of this promotion, the price of the Vitae token has decreased.

Focus on digital crime

Europol and related bodies have raised concerns about digital crime and its consequences. In a newly published report entitled “Cyberspace blue line“, Jeeves explains that her new focus is on cyber:

“The criminal abuse of encryption, an important aspect of digital democracy, as well as of the various applied sciences and privacy design, has created an imbalance between privacy, security and privacy. Confidential and secure. “

Cryptocurrencies are considered one of many tools cyber criminals use to go undetected by the police. The hackers responsible for ransomware attacks are currently using Bitcoin and other cryptocurrencies as a means of payment. It did so during the Colonial Pipeline attack last month. The report predicts that these types of cyber attacks will continue to occur in the future.

Europol and other police organizations around the world are now turning to cryptography and cryptocurrencies. Therefore, the supervisory authorities will concentrate on these properties in the future.

Teacher

According to News.Bitcoin

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

CoinX

Recent Posts

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

60 minutes ago

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

3 hours ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

3 hours ago

Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!

XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…

3 hours ago

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

4 hours ago

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

4 hours ago

This website uses cookies.