Jailed crypto scammers blew stolen funds on shark tank, hookers: Report

Five people were sentenced to prison for their roles in a $21.6 million crypto fraud in which they reportedly spent the stolen funds on a shark tank, private jet rides, sex workers and a luxury car.

The fraud trial at the Klagenfurt Regional Court was the largest in Austrian history, Heute noted.

More than $100,000 was spent on sex workers, also, BehindMLM said in a July 12 article.

There was “no shortage of money,” Heute said.

The operation was based in Dubai, but some of the stolen cash was transported to Austria (where many of the fraudsters are from) in plastic bags, Heute said.

Some of those convicted in the Oct. 23 verdict plan to appeal their convictions.

EXW Wallet launched in late 2019, promising EXW tokens a 0.1% to 0.32% daily return on investment. The fraud scheme collapsed several months later in 2020.

The fraudsters also promoted real-estate projects, and some of the defendants are being investigated for a cannabis-related fraud case where $17.2 million (16 million euros) is said to have been stolen from 17,000 victims.