German authorities destroyed1,400 plus illegal online trading domains; Cyber trading fraud

• 1,406 active internet domains were seized by German and Bulgarian authorities at the beginning of October.
• The domains were used for fraudulent financial investment websites, but since October 3rd, they only redirect to a “Seized” page. This means the domains can no longer be used to commit crimes.
• Scammers give trusting victims hope for good returns in crypto trading. The offers are advertised via messengers and through websites that appear legitimate.

After registration, money can be deposited; often, supposed brokers also call to broker supposedly attractive “investments,” frequently under the pretense of time pressure or limited quantities.

The victims’ “online accounts” soon show substantial profits after deposit, which do not actually exist. The deposited money is never invested; the account movements are faked. Sometimes, victims can even withdraw smaller amounts – a trick by the scammers to lure larger deposits. Often, victims don’t notice for months and believe themselves to be wealthy.

At some point, the websites disappear. If “investors” want to withdraw substantial amounts beforehand, scammers may try to extract additional money, for example, with stories about fees or taxes due before payout.

Many Accesses

To curb this activity, the Cybercrime Center at the Public Prosecutor’s Office Karlsruhe, the State Criminal Police Office Baden-Württemberg, and the Federal Financial Supervisory Authority (Bafin), in cooperation with Europol and Bulgarian law enforcement agencies, conducted Operation Heracles.

In the ten days following the seizure, investigators counted 866,000 accesses to the domains.