A 24-year-old Dutch law student from Hengelo, Netherlands, has been arrested following allegations of running crypto scams that defrauded approximately 300 people out of €4.5 million ($4.6 million). 

The arrest came after a foundation representing the victims provided new evidence to authorities.

The Bull Market is Driving Crypto Scams and Frauds 

The student, who had been on the run since his trading scheme collapsed last year, initially sought police protection after being harassed by investors. Police relocated him to a secure location. 

However, investigators have since uncovered accusations that he continued to attract new investors even as his scheme neared failure.

Victims claim the law student operated a Ponzi scheme,…