Dutch Police Inform 300 Coinbase Customers Targeted by Investment and Job Scams to Stop Transfers

East Netherlands police are urgently contacting around 300 victims of investment fraud and job posting fraud, warning them to halt crypto payments to suspected scammers immediately.

The victims were identified through a joint investigation by Europol and cryptocurrency exchange Coinbase, which flagged suspicious wallets on its platform. Investigators found that 300 Dutch customers of Coinbase had been transferring funds to these wallets, which are believed to have been opened by fraudsters.

According to the Dutch police, the majority of cases involve fake investment schemes. A smaller number of victims were deceived into believing they had secured remote jobs, often involving writing online reviews about companies. In reality, income was never paid or was paid out only rarely.

Losses range from just a few euros to tens of thousands, according to police.

The police are notifying victims by email and letter to prevent further transfers. The police are working closely with Victim Support Netherlands and the Fraud Helpdesk to provide support and assistance for victims.

Authorities stress that investigating investment fraud is extremely difficult. Funds typically vanish into hundreds of wallets scattered across international networks, making recovery nearly impossible. The priority, therefore, is damage prevention and stopping more victims from being drawn in.

Officials also warn of fraudulent recovery companies that may approach victims later, claiming they can retrieve lost funds in exchange for an upfront “deposit.” These  “recovery companies” are suspected to be linked to the same criminal networks, seeking to exploit victims a second time.

The Dutch police advise the public to stay calm and avoid hasty decisions under pressure. Verify whether any investment provider is registered with the Dutch Authority for the Financial Markets (AFM). Be sceptical of schemes promising high returns with low risk.