Founder of mega crypto-scam OmegaPro arrested in Turkey

In Turkey, the founder of one of the world's largest crypto-scams has been arrested: OmegaPro. This is what local media report, according to Cointelegraph. The arrest took place back in July 2024. It concerns Andreas Szakacs, a Swedish citizen who was living in Turkey under another name.

OmegaPro was founded in 2019 and was headquartered in Dubai. In total, it was said to be a scam worth four billion dollars. They presented themselves as an investment and forex company and promised investors returns of up to 300 percent.

Users also received these returns on smaller initial investments. But after calls to invest even more, the accounts were blocked. The company ceased operations in November 2022, and some 3,000 investors reportedly lost $103 million.

Turkish police seized computers, several mobile devices and 32 crypto wallets. Although the founder did not provide information that would give authorities access to the wallets, Turkish police were able to trace transactions worth more than $160 million.

Local investigators believe OmegaPro's money is closely linked to the infamous crypto fraud scheme OneCoin, which also scammed investors out of four billion dollars. OneCoin is considered one of the biggest crypto scams of all time. Its founder, Ruja Ignatova, disappeared without a trace and is on the list of 10 most wanted criminals in the world.