$87M crypto scam uncovered in Norway, four individuals indicted
Norwegian authorities have indicted four individuals for their involvement in an extensive fraud and money laundering operation that deceived thousands of victims across multiple countries.
Økokrim, Norway’s economic crime unit, revealed that over 900 million kroner ($86–87 million) was funneled into the scheme, with more than 700 million kroner laundered through a Norwegian law firm and transferred to accounts in Asia.
According to the indictment, victims were drawn into the scam through a multi-level marketing structure. Recruited by existing members, participants were persuaded to buy “product packages” that included the company’s proprietary cryptocurrency and shares.
They were promised a stake in…
