Massive $4 Billion Cryptocurrency Scam Unraveled: Dutch Executives Arrested in Istanbul

Major Arrests in Cryptocurrency Fraud Case

Two top managers from the cryptocurrency platform OmegaPro have been arrested in Istanbul, Turkey, amid a massive investigation into a billion-dollar fraud scheme. The Dutch managing director Robert V. was apprehended on Tuesday, following the earlier arrest of Swedish co-founder Andreas S. in July, as reported by Telegraaf.

The Rise of OmegaPro

Founded in 2018, OmegaPro quickly gained traction, registering its operations in the Caribbean and establishing headquarters in Dubai. The platform boasted astonishing profits of $4 billion within a remarkably short time.

Deceptive Promises to Investors

The fraudulent scheme involved attracting investors with promises of extraordinary returns, claiming profits of "up to 300 percent over a maximum period of 16 months." This enticing offer led thousands to invest their money into OmegaPro.

Legal Investigations and Victims

In February, the French public prosecutor's office initiated an investigation into OmegaPro's questionable trading practices, prompted by approximately 2,000 victims in France who reported fraud and misleading business activities by an organized group.

Evidence Seized by Authorities

The Turkish police have confiscated the suspects’ computers, mobile devices, and 32 cryptocurrency wallets, tracing transactions exceeding €160 million. Authorities suspect that OmegaPro's operations were part of a larger scheme linked to Ruja Ignatova, known as the Crypto Queen, who founded OneCoin in 2014 and has been under investigation for fraud since her mysterious disappearance.