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A 24-year-old Dutch law student from Hengelo, Netherlands, was arrested this week after further evidence emerged in connection with his alleged multi-million euro crypto scam.&nbsp; 
The man, who styled himself as a “crypto banker,” went into hiding last year when his crypto trading scheme collapsed, leaving around 300 people—including friends and family—with losses totaling up to €4.5 million ($4.6 million). 
As per the <a href="https://www.oost.nl/nieuws/3301156/omstreden-cryptohandelaar-die-miljoenen-liet-verdwijnen-opgepakt-verdacht-van-oplichting" target="_blank" rel="noreferrer noopener nofollow">report</a>, the man vanished after facing harassment from investors who had lost money. Following this, he went to the police for help and was moved to a safe location. 
However, on Monday, he was arrested after a foundation set up by the affected investors provided more evidence in the case. 
The scam involved the man convincing people to invest at least €5,000 ($5,146) each, promising high returns. In exchange, he would take 50% of the profits. Despite the scheme falling apart, he continued to take on new investors. 
Lawyers described it as a crypto pyramid scheme, where funds from new investors were used to pay older investors, creating the illusion of success. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2025/01/07/crypto-holder-loses-520k-in-link-to-fake-bridge-scam/" target="_blank" rel="noreferrer noopener">Crypto Holder Loses $520K in LINK to Fake Bridge Scam</a> 
</blockquote>

Dutch Law Student Arrested Over Multi-Million Euro Crypto Scam

The Crypto Times

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