Spain Arrests Mastermind of €260 Million Cryptocurrency Ponzi Scheme

By: theblockbeats.news|2025/11/09 13:52:25

BlockBeats News, November 9th, the Spanish Civil Guard has arrested a suspected leader of a €260 million cryptocurrency-related Ponzi scheme, who is accused of running an international investment scam called the "Madeira Invest Club." The Ponzi scheme attracted over 3000 victims by offering contractually guaranteed returns linked to digital art, luxury vehicles, whiskey, real estate, and cryptocurrency. Authorities found that no actual economic activity had taken place, and the investigation involved participants such as the European Union Agency for Law Enforcement Cooperation (Europol) and international law enforcement agencies, uncovering a sophisticated network of shell companies and bank accounts spanning at least 10 countries.

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