Greek soldiers probed in $8 million crypto scam defrauding 10,000

- Over 10,000 investors allegedly deceived by platform promising rapid, high returns - Military personnel among 17 arrested amid ongoing asset seizures and judicial scrutiny Greek law enforcement is investigating an $8 million crypto pyramid scheme, and two military personnel allegedly played leadership roles in a case that has defrauded about 10,000 investors. The scheme used a platform that promised quick profits and “VIP” status for sizable deposits, and the suspects face interrogation this week following judicial inquiries and widespread asset seizures that have drawn national attention to the scandal. On October 5, 2026, Decrypt reported that the investigation began in July 2026 after anonymous tips came in through a government portal. According to Decrypt, the scheme operated under the guise of an association for artificial intelligence enthusiasts and lured users with promises of rapid returns and elevated membership tiers for larger investments. In addition, police have arrested 17 individuals and seized €295,000 in cash. Authorities are also investigating cross-border financial flows, and they suspect that investor funds were laundered through digital banks and crypto wallets controlled by the purported ringleaders. Meanwhile, judicial authorities continue to scrutinize the collection and transfer of funds, along with the roles played by the accused military personnel and other suspects. As a result, the investigation remains active, with asset tracing and interrogations ongoing.