Cybercrime Zapadni Balkan Newsletter No. 63

Dear clients,

A new wave of financial scams is again exploiting the popularity of cryptocurrencies and decentralized projects. This time, scammers focus on fake ICO (Initial Coin Offering) campaigns that promise quick profits and revolutionary technologies, specifically targeting investors in the Balkan region.

What are ICO scams?
An ICO is a fundraising model for new crypto projects, where investors buy tokens before the project officially launches. Ideally, this allows startups to raise capital and investors to participate in the token’s value growth. However, scammers abuse this model by creating fake projects without real value or technical support, solely to collect money and then disappear.

How do they present themselves?
Fake ICO campaigns often use professionally designed websites, fake teams with nonexistent or stolen identities, and promise innovative technologies such as DeFi, metaverse, or AI integration. Promises of huge profits in a short time and “exclusive” opportunities for regional investors serve as bait. They also often claim nonexistent partnerships with well-known companies or regulators.

Why is it important to understand regulatory risks?
In the Balkans, as globally, crypto market regulation is still developing and often not harmonized with practices in developed countries. This allows scammers to exploit legal loopholes and makes them difficult to prosecute. Investors need to be aware that many ICO campaigns are not registered or regulated, and in case of fraud, legal protection can be nearly impossible.

How to protect yourself?

• Check if the ICO is registered with relevant regulatory authorities.
• Research the team behind the project – verify LinkedIn profiles, references, and previous projects.
• Be skeptical of big profit promises without risk.
• Avoid investing in projects without a clear product, technical documentation (whitepaper), and transparent plans.

Conclusion
Fake ICO campaigns represent a new form of sophisticated financial fraud that can seriously threaten your savings. Awareness and caution are key to avoid becoming part of the next scam story. Our team monitors the latest trends and will keep you promptly informed about all risks and steps in your case.

Your DefendMe team