TechFlow reported on December 17 that, according to Decrypt citing the local English-language media outlet The International, a 39-year-old suspect with a history of prior offenses was arrested in Milan, Italy earlier this year with assistance from Europol. The suspect is reportedly involved in a new variant of the "scam" fraud, which traditionally uses counterfeit money to purchase luxury goods such as expensive watches or gold. In this case, victims handed over cryptocurrency to scammers in exchange for fake banknotes. Vienna police have dubbed this variant "Rip-Deal 2.0".
The suspect was also found in possession of €200,000 in counterfeit currency. Gerald Goldnagl, Chief Inspector and head of the Vienna division, said, "These crimes are usually carried out by organized gangs from the Western Balkans."
Police detective Mario Kaintz described the gang's scam methods as "sophisticated." In some cases, "they made victims enter passwords or the 'seed phrases' of their cryptocurrency wallets, and sometimes even used hidden cameras in ceilings to spy on victims' phone screens."
