{"id":79121,"date":"2026-10-06T04:23:08","date_gmt":"2026-10-06T04:23:08","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/greek-police-bust-alleged-9m-ai-crypto-scam-that-promised-to-double-money\/"},"modified":"2026-10-06T04:23:08","modified_gmt":"2026-10-06T04:23:08","slug":"greek-police-bust-alleged-9m-ai-crypto-scam-that-promised-to-double-money","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/greek-police-bust-alleged-9m-ai-crypto-scam-that-promised-to-double-money\/","title":{"rendered":"Greek Police Bust Alleged $9M AI Crypto Scam That Promised to Double Money"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Greek police arrested 17 suspects on Sept. 30 for running an $9 million crypto pyramid scheme.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Fake AI trading claims using USDT and USDC stablecoins threaten public trust in automated crypto investments.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Suspects behind AT Team Greece face an investigating judge at the Katerini Court for formal prosecution.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>A Facade of Legitimacy<\/h2>\n<p>Greek police have dismantled a massive alleged <a href=\"https:\/\/news.bitcoin.com\/texas-halts-alleged-crypto-pyramid-scheme-after-zero-risk-millionaire-promises\/\">cryptocurrency pyramid scheme<\/a> that authorities said defrauded more than 10,000 investors of an estimated $9 million under the guise of an artificial intelligence (AI) association.<\/p>\n<p>According to a <a href=\"https:\/\/knews.kathimerini.com.cy\/en\/news\/double-your-money-in-50-days-greek-police-uncover-alleged-$8-million-crypto-pyramid-scheme\" target=\"_blank\" rel=\"noopener noreferrer\">local report<\/a>, 17 people, including two suspected ringleaders and several military personnel, were arrested during early-morning raids on Sept. 30 led by the Katerini Crime Investigation and Detection Subdirectorate. Another nine suspects have been named in the formal case file.<\/p>\n<p>The syndicate reportedly operated under a front organization known as the Hellenic Artificial Intelligence Team Association, or AT Team Greece. To create an illusion of legitimacy, the group established physical branches across Greece\u2014including in Larissa, Katerini, Peristeri, Kanalaki and Mytilene\u2014while organizing social events, public sponsorships, and charitable donations.<\/p>\n<p>Promoted as a low-risk, high-return investment platform, the scheme promised victims that an AI-powered automated trading algorithm would double their money in USDT or USDC <a href=\"https:\/\/www.bitcoin.com\/get-started\/what-are-stablecoins\/?_gl=1*17e2c0z*_gcl_au*OTk5NTQzMjAuMTc4OTMyOTIwMQ..*_ga*MTU3OTQwMTMwLjE3NzM3NjQ2MDc.*_ga_ERLPF60ZDD*czE3OTExOTI4NDUkbzg1NiRnMSR0MTc5MTE5NTY0NCRqNjAkbDAkaDA.\" target=\"_blank\" rel=\"noopener noreferrer\">stablecoins<\/a> within 50 days. During this period, investors were barred from making withdrawals. On Sept. 1, all withdrawal functions were frozen completely under the pretense of a strategy shift, leaving investors\u2019 funds trapped.<\/p>\n<p>Police described the platform as a classic pyramid scheme operating without authorization from financial regulators. Incoming funds from newer recruits were used to pay commissions to earlier members, while the primary proceeds were laundered into offshore digital banks and <a href=\"https:\/\/www.bitcoin.com\/wallet\/custodial-vs-non-custodial-wallets\/\" target=\"_blank\" rel=\"noopener noreferrer\">cryptocurrency wallets<\/a>.<\/p>\n<h2>Raids and Evidence Seized<\/h2>\n<p>Records show the organization was formed by April 2025 before expanding across the country. During preliminary questioning, 18 victims reported combined personal losses totaling $62,690.<\/p>\n<p>The police operation spanned five offices, nine residential properties, and a hotel in major centers, including Athens, Piraeus, Patras, and Ioannina. During the operation, officers seized $330,521 in cash along with an extensive array of digital evidence, including 32 mobile phones, 15 tablets, 21 laptops, and seven desktop computers.<\/p>\n<p>They also recovered 38 USB flash drives, 16 external hard drives, a money-counting machine, SIM cards, financial records, and bank cards. A flare gun, firecrackers, and metal pellets were confiscated from one suspect\u2019s home.<\/p>\n<p>The 17 detainees have been presented before the prosecutor at the Katerini Court of First Instance and referred to an investigating judge for formal prosecution.<\/p>\n<div class=\"not-prose my-3 lg:my-4\">\n<div class=\"overflow-hidden rounded-lg !bg-[#E8EDFA] p-[9px] hidden md:flex md:flex-row md:gap-3 lg:hidden\"><a aria-hidden=\"true\" tabindex=\"-1\" class=\"relative size-[150px] min-w-[150px] shrink-0 overflow-hidden rounded-[15px]\" href=\"https:\/\/news.bitcoin.com\/btc-e-operator-alexander-vinnik-pleads-guilty-to-money-laundering-charges\/\"><\/p>\n<div class=\"absolute left-2 top-2\"><img alt=\"Bitcoin.com News\" loading=\"lazy\" width=\"28\" height=\"28\" decoding=\"async\" data-nimg=\"1\" class=\"size-7\" style=\"color:transparent\" srcset=\"\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=32&amp;q=75 1x, \/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75 2x\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75\"\/><\/div>\n<p><\/a><\/div>\n<div class=\"overflow-hidden rounded-lg !bg-[#E8EDFA] p-[9px] hidden lg:flex lg:flex-row lg:gap-4\"><a aria-hidden=\"true\" tabindex=\"-1\" class=\"relative size-[150px] min-w-[150px] shrink-0 overflow-hidden rounded-[15px]\" href=\"https:\/\/news.bitcoin.com\/btc-e-operator-alexander-vinnik-pleads-guilty-to-money-laundering-charges\/\"><img alt=\"BTC-e Operator Alexander Vinnik Pleads Guilty to Money Laundering Charges\" loading=\"lazy\" decoding=\"async\" data-nimg=\"fill\" class=\"object-cover\" style=\"position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent\" sizes=\"150px\" srcset=\"\/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2024%2F05%2Falexander-vinnik.webp&amp;w=32&amp;q=75 32w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2024%2F05%2Falexander-vinnik.webp&amp;w=48&amp;q=75 48w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2024%2F05%2Falexander-vinnik.webp&amp;w=64&amp;q=75 64w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2024%2F05%2Falexander-vinnik.webp&amp;w=128&amp;q=75 128w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2024%2F05%2Falexander-vinnik.webp&amp;w=256&amp;q=75 256w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2024%2F05%2Falexander-vinnik.webp&amp;w=384&amp;q=75 384w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2024%2F05%2Falexander-vinnik.webp&amp;w=640&amp;q=75 640w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2024%2F05%2Falexander-vinnik.webp&amp;w=828&amp;q=75 828w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2024%2F05%2Falexander-vinnik.webp&amp;w=1080&amp;q=75 1080w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2024%2F05%2Falexander-vinnik.webp&amp;w=1200&amp;q=75 1200w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2024%2F05%2Falexander-vinnik.webp&amp;w=1920&amp;q=75 1920w\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2024%2F05%2Falexander-vinnik.webp&amp;w=1920&amp;q=75\"\/><\/p>\n<div class=\"absolute left-2 top-2\"><img alt=\"Bitcoin.com News\" loading=\"lazy\" width=\"28\" height=\"28\" decoding=\"async\" data-nimg=\"1\" class=\"size-7\" style=\"color:transparent\" srcset=\"\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=32&amp;q=75 1x, \/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75 2x\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75\"\/><\/div>\n<p><\/a><\/p>\n<div class=\"flex min-w-0 flex-1 flex-col justify-center gap-2\">\n<p class=\"m-0 line-clamp-2 text-base leading-[1.3] !text-[#67656E]\">According to a press release from the U.S. Department of Justice, Alexander Vinnik, a former operator of the BTC-e exchange,\u2026<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/regulation-and-legal\/greek-police-bust-alleged-9m-ai-crypto-scam-promised-double-money\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Greek police arrested 17 suspects on Sept. 30 for running an $9 million crypto pyramid scheme. Fake AI trading claims using USDT and USDC stablecoins threaten public trust in automated crypto investments. Suspects behind AT Team Greece face an investigating judge at the Katerini Court for [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":79122,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/79121"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=79121"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/79121\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/79122"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=79121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=79121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=79121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}