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French media: Cryptocurrency scams from Albania are undermining investment confidence

Politiko 2026-06-08 10:24:19

French media: Cryptocurrency scams from Albania are undermining investment

An investigation by French authorities has uncovered a cryptocurrency investment fraud scheme that allegedly operated from Albania, leaving behind at least 19 French victims and financial damage estimated at around 1.5 million euros, French media report .

According to information published by AFP, the investigation launched by the gendarmerie's investigations section in Pau led investigators to Albania, where it is suspected that a call center run by five Albanian citizens operated through the "universaltrade.io" platform.

French authorities suspect that victims were initially lured through online investment advertisements. Initially, they were asked for small amounts of money, while fake profits appeared in their accounts, encouraging them to invest more and more.

The problems began when investors tried to withdraw their funds. According to investigators, this became impossible, unless the victims were persuaded to deposit even more money.

The first case that led to the opening of the investigation involved a resident of the Pyrénées-Atlantiques region, who lost 30,000 euros after investing through the platform. The investigation subsequently identified other victims, including an entrepreneur from the south of France, who lost around 300,000 euros, her life savings that she had planned to use to help her daughter before her marriage.

"They steal more than money. They steal your dignity, your intelligence, and everything you've built over the years. That money was our pension. My husband and I were forced to go back to work ," said one of the victims.

According to AFP, one of the people involved in the network, met by journalists in Tirana, stated that he feels no remorse for the activity, saying: "If there are people who believe it, I don't see why I should have any scruples."

Because Albania does not extradite its citizens, the Pau Prosecutor's Office is expected to hand over the file to Albanian authorities. According to the report, the Albanian judiciary has promised to review the case and the possibility of compensating the victims.

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