Norway sues four individuals over $87 million cryptocurrency Ponzi scheme
ChainCatcher news, according to Decrypt, the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime (Økokrim) has charged four men this week, accusing them of defrauding 963 million Norwegian kroner (approximately 86.5 million USD) through a fraudulent investment scheme between 2015 and 2018. The scam gang attracted investors with cryptocurrencies such as OctaCoin, NanoCoin, and Ormeus Coin, promising high returns but making no real investments.Victims are spread across Sweden, Belgium, the Netherlands, and China, who invested their funds into projects named Crypto888 Club, Octa Partners, and Nano Club. These brands actually belonged to the same Ponzi scheme, with Octa Partners rebranding to Nano Club after its collapse, then becoming Crypto888, and finally renaming to Nano Crowd, continuously defrauding investors.