Fraudsters embarrassed South Burgenländer: Lost 200,000 euros in crypto!

Fraudsters embarrassed South Burgenländer: Lost 200,000 euros in crypto!

An investor from Südburgenland was the victim of a refined fraud that shook not only his assets, but also his trust in young technologies. According to information from Krone , a fraudster was an alleged financial expert from IVR Invest and promised high profits from "AI trade" and cryptocurrencies. The investor, who was contacted at the end of December 2024, invested 250 euros with the promise to win 20 euros a day.

the Situation escalated when the fraudster gave instructions for installing trading apps on the victim's cell phone, which gave him access to his trading account. The victim was able to monitor the money movements, but did not intervene, which led to a desperate sales act: the investor sold his house in Hungary and invested the revenues and borrowed money from friends and family in crypto trade. In total, he lost almost 200,000 euros before the authorities were alerted after a bank employee suspected money laundering. Unfortunately, the money had already disappeared at this time.

cybercrime in the crypto range

The incident illustrates a worrying trend in cybercrime. The "Crypto Crime Report 2025" by Tarnkappe becomes more professional. In 2024, the world experienced an increase in crypto fraud, ransomware and money laundering, with over $ 10 billion that flowed into fraudulent crypto projects. Criminals are increasingly using artificial intelligence to optimize their machinations, among other things through automated chatbots and deepfake videos.

The method of "Pig Butchering" is particularly on the rise. In doing so, fraudsters create trust in their victims before exploiting them. As the investor's case shows from South Burgenland, many victims have lost their entire savings. Investigators have increasingly difficulty taking action against such international fraudal networks, since many of the deeds take place outside of their areas of responsibility.

global effects and challenges

cryptocurrency fraud has devastating effects worldwide. According to Tagesschau , the total damage by fraud with crypto systems is around 70 billion euros. New victims are registered in Germany every day, and the perpetrators often use psychologically sophisticated methods. There are reports of systematic attacks from fraudulent centers in areas with weak state control.

The threat of crypto fraud does not become smaller, on the contrary: Governments and investigative authorities worldwide increase their measures to combat this form of crime. The Bavarian Ministry of Justice has made an agreement with Interpol to improve international cooperation. Overall, the question remains whether law enforcement authorities are able to keep up with the constantly developing cybercrime.