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European-wide fraud with cyber trading

Austrians among the victims

An apparently Europe-wide group has cheated thousands of investors of their money. In an international action, the police now broke up the network.

Online trading platforms

The platforms for online trading were advertised through social media, call centers and e-mails. There is little to no risk, so the promise of the fraudsters. Consumers could invest in cryptocurrency, Forex, binary options and similar financial products. The investors were then talked out of collecting their profits, but instead talked into further payments.

The truth was that the money was already in a network of bogus companies, used for money laundering. According to media reports, several thousand people were cheated of 100 million euros per year. The proportion of those affected in Austria is currently still unclear.

The platforms operated by the fraudulent network includes, among others, the following: XTraderFX, Optionstars, OptionstarsGlobal, Goldenmarkets, SafeMarkets, Cryptopoint.

The only option for victims is to file a criminal charge at the police.

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