Victims estimate that between €1.5 million and €4.5 million (~$1.54 million – $4.64 million) was stolen.
Hengelo man arrested in alleged crypto pyramid scheme
A self-described crypto banker from Hengelo, Netherlands was arrested in connection to an alleged crypto pyramid scheme he'd been running. He'd originally told police that he was being harassed by investors after he told them he had lost the invested funds, and police helped him move to a safe location. However, after a group of investors amassed evidence that he was scamming the friends, associates, and others he'd lured into the scam, he's been arrested.