Austrian police have cracked a cryptocurrency fraud case worth 1.26 million dollars. A 39-year-old suspect with a criminal record was arrested in Milan, Italy. The suspect is alleged to have participated in a new type of scam. This scam traditionally involved using counterfeit money to purchase luxury goods, such as expensive watches or gold, but has now evolved to where victims hand over cryptocurrency in exchange for counterfeit money. The Vienna police have dubbed this new type of scam 'Rip-Deal 2.0.' The suspect also possessed approximately 200,000 euros in counterfeit bills. Investigations reveal that in some cases, the suspect lured victims into entering the passwords or mnemonic phrases for their crypto wallets, and sometimes even used hidden cameras in the ceiling to spy on the victims' phone screens. (Decrypt)