Cybercrime Southeast Europe Newsletter No. 77
Dear Clients,
In recent months, there has been a noticeable increase in cryptocurrency and stablecoin scams in the Balkans. Fraudsters are using various channels – social media, direct messages via Telegram, WhatsApp, or Instagram—to lure users with promises of high returns and minimal risk.
The most common methods include:
- Creating fake platforms that imitate well-known crypto exchanges or wallet services, complete with professional-looking websites and fabricated testimonials;
- Offers to invest in stablecoins or crypto tokens with “guaranteed” daily or weekly returns, often structured as multi-level marketing (MLM) schemes;
- Direct contact with potential victims, using fake identities and pressure tactics to encourage quick decisions;
- Organizing fake “investment seminars” and webinars to further recruit new participants.
It is important to note that these scams are often international in nature – funds quickly move through multiple accounts and countries, making recovery difficult.
To protect yourself:
- Do not invest in platforms that have not been verified with official regulators or financial institutions;
- Carefully check the identity of any person or company contacting you, and do not trust unverified profiles;
- Never share passwords, private keys, or verification codes;
- Enable two-factor authentication (2FA) on all crypto and financial accounts;
- Verify suspicious messages or offers directly with your bank or relevant authority, without clicking on links in messages.
Scams of this type can result in complete loss of funds. Vigilance, caution, and verification of identities are essential to protect your finances.
Kind regards,
Attorney Zoran Miljaković