Greek police arrested 17 people and dismantled a criminal organization accused of running a cryptocurrency pyramid scheme that collected about $8 million from at least 10,000 participants, according to an October 2 statement from the Hellenic Police. Investigators in the northern city of Katerini led the months-long inquiry, which ended in coordinated raids across nine Greek regions and the seizure of cash, computers and dozens of storage devices.

A pyramid scheme promising returns within 50 days

The group operated through legitimate-looking company structures and an online platform, misleading investors with false assurances that their initial capital would double within 50 days, police said. It recruited at least 10,000 people and had…