Dutch Police Arrest Three Men for Allegedly Making Their Own Cryptocurrency and Manipulating Prices for Profit

Dutch police arrested three men in the industrial city of Deventer for trying to defraud investors by selling them homemade cryptocurrencies and then deliberately manipulating their prices, CoinDesk reports. “There was also electricity theft,” police said. One of the men, 39, made the cryptocurrency, advertised it on cryptocurrency platforms and Twitter, attracted investors and pushed up the price. He then sold large amounts of the currency in a short period of time, rendering them “worthless. During the investigation, police seized a house, vehicle, computer and some cryptocurrency.

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