In Austria’s largest crypto scam, five individuals were sentenced for defrauding investors out of €20 million ($21.6 million). The perpetrators used a fake cryptocurrency investment platform to lure victims with promises of high returns. The ringleader, sentenced to six years in prison, and his accomplices, received sentences ranging from several months to over four years. The scam targeted more than 1,000 people across multiple countries, leveraging the growing interest in cryptocurrency. Victims believed they were investing in legitimate crypto assets but instead were funneling money directly into the scammers’ accounts, resulting in significant financial losses.