1.2 million euro loss

Rip-deal fraudster caught by Vienna police

The Dutchman had already been sentenced in St. Pölten the previous month (symbolic image).

(Bild: thinkstockphotos.de (Symbolbild))

Viennese criminals have caught a rip-deal fraudster (39) who has been proven to have committed seven crimes with a total loss of 1.2 million euros. Most of the victims, mainly from Austria, lost cryptocurrencies. 

The main perpetrator is a Dutch citizen with the nickname "Kennedy". He was arrested by the Italian police in Milan with Europol support and sentenced to three years in prison at the St. Pölten Regional Court in October, as the police announced on Thursday. In the course of the trial, he paid 100,000 euros in restitution to one of his victims by instant bank transfer.

Wallet created for cryptocurrencies
The total loss amounts to 1.2 million euros, affecting victims from St. Pölten, Tulln, Liezen, Vienna, Zurich and North Rhine-Westphalia. In the course of this, 200,000 euros in counterfeit money was also seized. In addition, the Austrian investigators tracked down further accomplices, for whom European arrest warrants have now also been issued. The searches are ongoing.

What is a rip deal?

A rip deal is a particularly devious form of fraud in which perpetrators trick potential victims into making advance payments for goods or services that do not actually exist or will not be delivered. Perpetrators pose as wealthy businessmen, investors or buyers. They target the sale of luxury goodssuch as: High-priced watches, real estate, gold coins or cryptocurrencies.

According to criminologists, the convicted man belonged to a Roma clan. They are accused of inviting their victims to hotels, for example in Milan, in order to create trust and invite them to dinner. The victims were then allegedly asked to create a cryptocurrency wallet. The password is then spied on - usually with a hidden camera. 

Crime prevention recommendations:

• Never let your smartphone out of your hand when making crypto transactions
• Never set up wallets in the presence of other people
• Never set up wallets during a video call
• Reputable business partners do not require specific wallets and/or crypto exchanges
• Any wallet address is good enough for test transactions! Do not allow yourself to be persuaded to install a new wallet
• Never scan QR codes for wallet addresses of people you do not trust 100 percent.
• Rip-Deal 2.0 perpetrators do not hack, they spy on passwords

The people affected by the scam are those who either sell their own high-quality goods, offer services or want to build up capital themselves. 

(Bild: LPD Wien)

"Challenging phenomenon"
"The investigation started when a private detective reported the case to us in 2021 and asked us for help in solving it because the case of a man from St. Pölten had been unsolved since 2018," explains special investigator Valentin Szaga-Doktor. According to the investigation, the target was ultimately found to have committed eight crimes in Europe since 2016. He has been active in the rip-off business for almost 15 years. According to Szaga-Doktor, rip deals are among the most challenging phenomena of our time. One of the reasons for this is that the perpetrators are outstanding in both operational and technical terms.