London police bust $1.3 million crypto scam, five men arrested

Jinse Finance reported that the London Metropolitan Police have arrested five men aged between 21 and 37, suspected of defrauding over $1.3 million through fake cryptocurrency investment websites. Police stated that the network may have lured thousands of victims worldwide. Investigations revealed that the suspects operated "boiler rooms," using fake trading platforms, celebrity endorsements, and other tactics to guide victims into continuously investing in fictitious token projects.