Spanish cops have arrested six people as part of a two-year operation to cripple a crypto investment scam ring that used artificial intelligence to con 208 people out of over €19 million ($21.5 million) in total.
The operation started two years ago when a man from the city of Granada went to the police after having lost €624,000 (over $700,000), the Spanish National Police said.
Authorities said that the alleged criminals used realistic celebrity videos, powered by AI, to convince would-be investors to hand over cash.
In order to keep the con going, the group would tell victims that in order to be able to unlock their initial investment, they would have to plug more money into the scheme—which promised huge returns through…
Apr 13 2025
