ChainCatcher news, according to Protos, a 24-year-old Dutch law student was arrested this week on suspicion of a crypto scam involving millions of euros. The man, who called himself a "crypto banker," disappeared last year after his crypto trading plan failed, causing about 300 investors (including relatives and friends) to lose up to 4.5 million euros (about 4.6 million U.S. dollars). After hiding for a while, he was arrested by the police because the foundation set up by the victims submitted further evidence.

It is reported that the man continued to recruit new investors, even though his plan was close to collapse. Investors need to pay at least 5,000 euros to participate, and 50% of their profits are paid to him. Lawyers pointed out that this behavior is similar to a crypto Ponzi scheme, using the funds of new investors to repay old investors.