fintechfraud

#CryptoScams ON €24M

The Barcelona court is investigating the platform #Shirtum , accused of orchestrating a massive 'pump and dump' scheme. The case involves former and current stars of '#SevillaFC', including Papu Gómez, Ivan Rakitić, and Lucas Ocampos. The footballers were positioned as 'co-founders,' which helped attract millions of euros from fans. Investors were sold #NFT‬⁩ cards for €450, which, according to the investigation, weren't even registered on the blockchain. Additionally, they raised about €3M for app development, but the product never launched.

Meanwhile, the team promoted the SHI token, where insiders controlled 78% of the supply. After an artificial price pump, the liquidity was siphoned off, and the asset's value collapsed. Following the platform's crash, players massively deleted all promotional posts; however, the investigation uncovered suspicious transfers that may have gone to their personal accounts. Considering all the manipulation, the total losses for the victims are estimated at €24M, making this case one of the most notorious scandals at the intersection of sports and the crypto industry.

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