Spanish Police Uncover €19M Crypto Scam Using AI and Fake Celebrity Endorsements

Spanish police have cracked down on a massive cryptocurrency fraud, nabbing six people behind a €19 million ($21.5 million) swindle that duped over 200 victims using fake videos crafted with artificial intelligence. A two-year probe, outlined by the Spanish National Police, exposed a slick operation that leaned on phony celebrity endorsements to trick people into a bogus crypto deal.

Crypto Scam Probe Launched After Granada Man Loses €624K in

Fraud.

It all started when a Granada local reported losing €624,000 ($700,000) to what he thought was a legit crypto investment. From there, cops dug deeper and found a larger plot where crooks used AI to whip up convincing clips of famous folks pitching a too-good-to-be-true crypto scheme. To keep victims hooked, the scammers demanded extra payments to “release” their original stakes, dragging them deeper into the con.

The supposed mastermind got caught trying to bolt to Dubai. The group, ranging from 34 to 57 years old, now faces charges like fraud, money laundering, and forging documents. So far, there‘s no word on whether any of the stolen cash has been clawed back, and the case is still active. Police are warning folks to be wary of crypto deals promising big payouts, especially since they haven’t pinned down which digital currencies were involved.

Crypto Social Media Hacks on the Rise as Meme Coin Pump-and-Dump Schemes Spread

This bust sheds light on a growing wave of crypto rip-offs using AI-faked videos and stolen celebrity clout. These tricks are popping up more often to hype shady investments, like meme coins or quick-buck schemes that crash hard. Take Slash from Guns N Roses—he ditched social media platform X after hackers hijacked his account to peddle a fake crypto hustle.

Crypto-focused social media scams are spiking. Just last month, Watcher.Guru, a big name in crypto news, admitted its X account got hacked when a false post about a Ripple-SWIFT tie-up spread, possibly messing with XRP buzz. Back in February, Diors Instagram was taken over to push a fake Solana token that briefly spiked to a $280,000 market cap before tanking 90%.

The pattern‘s hit platforms like Kaito AI, a crypto market tracker. Last week, hackers grabbed its X account and posted lies about its wallets being compromised, freaking out users about their money. These attacks tie into a bigger jump in crypto losses. Per Immunefi, a blockchain security outfit, February 2025 racked up $1.53 billion in crypto hits—20 times January’s $73.9 million and 18 times more than February 2024s $81.6 million, thanks to nine big hacks.

This Spanish case shows how crafty these scams are getting, mixing AI tricks with old-school cons to prey on trust. Law enforcement everywhere is scrambling to keep up as crooks zero in on folks chasing crypto riches.