Greece Targets Crypto Crimes with Major Seizure | Digital Watch Observatory

Greek authorities have achieved a milestone in law enforcement with their first-ever cryptocurrency seizure, confiscating 273,000 USDT (Tether) in December. This operation, part of the ongoing "Admiral" investigation, was conducted under the supervision of the European Public Prosecutor’s Office in Greece and involved collaboration with various law enforcement departments, including the Digital Evidence Examination Department.

The seizure underscores the increasing challenges law enforcement faces in addressing crimes involving advanced technologies like blockchain and cryptocurrencies. Known for their anonymity and security features, cryptocurrencies are often exploited in criminal activities such as fraud and money laundering. Experts emphasize the need for precision and expertise when handling digital assets, as errors can result in irreversible losses.

Cryptocurrency-related scams are becoming increasingly prevalent in Greece, with many falling victim to fraudulent schemes. The growing popularity of cryptocurrencies, particularly Bitcoin and NFTs, combined with a lack of public understanding, elevates the risk of such scams. Experts warn that advances in AI technology are making these scams more sophisticated and difficult to detect, even for experienced investors.

Beyond combating fraud, Greek authorities are also focusing on the management of seized cryptocurrencies, planning to convert them into state funds, mirroring practices in other European countries. This $330 million AI data center investment announced separately will further boost Greece's digital economy.