The Draguignan criminal court is currently examining a complex fraud case involving a mother and son suspected of swindling a couple in their sixties from the Var region out of 1.5 million euros in cryptocurrency. The scheme relied on a sophisticated ruse centered around a fictitious real estate transaction in the sought-after Saint-Tropez area. By feigning interest in purchasing a property valued at 12 million euros, the defendants lured the sellers into a carefully orchestrated trap, leveraging the promise of a quick and lucrative sale.
The modus operandi, known as a "rip deal," reached its climax during a meeting held at a hotel in Milan. Under the guise of finalizing transaction formalities, the perpetrators allegedly stole access to the victims' digital wallets. The use of covert recording technology, such as camera-equipped glasses, reportedly allowed the suspects to instantly seize the victims' private keys. The couple noted feeling unusually confused during the encounter, raising the possibility that their judgment had been impaired.
Following the complaint, a meticulous year-long investigation by the Gassin-Saint-Tropez gendarmerie led to the arrest of the two suspects last June in Cavalaire. Although they formally deny the accusations, authorities have carried out a precautionary seizure of three properties totaling approximately 3 million euros. These assets could be used to compensate the victims should the defendants be found guilty of organized fraud at the conclusion of the trial.
This case illustrates the growing risks associated with digital assets in large-scale transactions, highlighting investor vulnerability to sophisticated social engineering techniques. Beyond the financial loss, the case raises questions about whether a larger criminal network exists behind this duo. Court proceedings will determine if this isolated operation is merely the tip of the iceberg in a structured fraud system, at a time when cryptocurrency-related crime has become a major concern for French law enforcement.