Australian Police Charge 5 Over $1.8 Million Cryptocurrency Scam

Queensland Australia police 860x430

Five people have been charged in Australia over a cold-call cryptocurrency investment fraud.After an investigation by the Financial and Cyber Crime Group, State Crime Command, detectives allege that three men and two women duped over 100 investors into handing over A$2.7 million (around US$1.83 million) believing that they were generating significant profit.That was not the case, however, according to a warning from Queensland police on Thursday.From 2017, victims were said to have been persuaded to invest cryptocurrency in a legitimate-seeming firm called Exmount Holdings Group, which had a website, call center and sales staff.The victims were allegedly lured into making a trial investment, with promises of high returns after they had invested more funds. They were provided website accounts where they could monitor the growth of their investment over the trial period.Detective Superintendent Terry Lawrence of the Financial and Cyber Crime Group, said:Other entities and websites alleged to have been…

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