Crime-fighting agency Europol and Spanish law enforcement say they have busted an allegedly fraudulent scheme posing as an Andorran firm that specialized in cryptocurrency and foreign exchange investment training.

• Europol said Thursday it worked with Spain’s Civil Guard and Catalan police to arrest six suspects aged between 20 and 34 years in connection with the scheme.
• Authorities searched two houses and seized an estimated €70,000 (US$84,716) in fiat currency and cryptocurrencies including bitcoin, ethereum, XRP and omisego, as well as eight vehicles and electronic devices.
• “The nabbed suspects allegedly defrauded thousands of clients via an investment training company,” said the Europol report.
• It is suspected that the scheme was working internationally.

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