Overview

• A 45-year-old man in Bavaria lost a mid-six-figure sum after a woman on social media directed him to a fraudulent cryptocurrency trading platform.
• The man tracked daily fake profit increases of up to €200 before scammers blocked his withdrawal request by demanding a bogus tax payment.
• Police in Ulm report a 42-year-old woman was similarly defrauded of €100,000 after responding to a Facebook advertisement.
• Kriminalpolizei Kaufbeuren and Ulm authorities have opened investigations into the schemes and are urging any further victims to come forward.
• Officials advise verifying a platform’s imprint and BaFin licensing to confirm the legitimacy of online investment services.