Vienna Police Uncover €1.2 Million Cryptocurrency Fraud Scheme

According to Odaily, Vienna police have successfully dismantled a €1.2 million cryptocurrency fraud operation known as 'Rip-Deal 2.0.' A 39-year-old suspect was apprehended in Milan, Italy, in connection with the case. The individual is reportedly linked to multiple criminal activities. The 'Rip-Deal 2.0' scheme represents a new twist on traditional Rip-Deal scams, which typically involve the use of counterfeit currency to purchase luxury items such as expensive watches or gold. In this particular case, victims were deceived into exchanging cryptocurrency for counterfeit money. Vienna police have labeled this updated version of the scam as 'Rip-Deal 2.0.' The arrest marks a significant breakthrough in the fight against cryptocurrency-related fraud, highlighting the evolving nature of scams targeting digital assets. Authorities continue to investigate the extent of the suspect's criminal activities and are urging the public to remain vigilant against similar fraudulent schemes.