Fake exchanges, rug pulls, bogus recovery: crypto fraud leaves a traceable on-chain trail.
Fake trading platforms, bogus crypto brokers, “pig butchering”, rug pulls and fake fund-recovery firms: crypto fraud is prosecuted in Spain as fraud (Articles 248 to 250 of the Criminal Code), usually combined with money laundering. On-chain tracing and qualifying intent are central for victims and accused alike.
In brief. crypto fraud relies on fake exchanges and brokers simulating returns to capture funds. It constitutes fraud (Art. 248), aggravated above 50,000 euros (Art. 250), and is frequently combined with computer fraud, money laundering (Art. 301) and organised crime. Blockchain traceability, wallet analysis and the tracing of funds are decisive.
The core is fraud. Fake platforms, doctored dashboards and simulated returns constitute the deception of Article 248, producing a mistake and prejudicial transfers.
Aggravation and concurrence are the norm. Above 50,000 euros the fraud is aggravated (Art. 250), commonly combined with computer fraud (Art. 248.2), money laundering (Art. 301) and organised crime (Art. 570).
The blockchain leaves a trail. Unlike cash, on-chain flows can be reconstructed to exchange off-ramps; wallet and transaction analysis guides both defence and recovery.
| Offence | Article | Penalty framework | Key aggravating factor |
|---|---|---|---|
| Fraud | 248 | 6 months – 3 years | Multiple victims |
| Computer fraud | 248.2 | 6 months – 3 years | Technical manipulation |
| Aggravated fraud | 250.1 | 1 – 6 years | Loss > 50,000 € |
| Money laundering | 301 | 6 months – 6 years + fine | International network |
| Organised group | 570 bis | Aggravation | Leadership role |
| False investment info | 282 bis | 1 – 4 years | Harm to investors |
| Money mule | 248/301 | By the knowledge shown | Awareness of the origin |
| Civil liability | 116 | Restitution + compensation | On-chain tracing |
Indicative figures based on the Spanish Criminal Code. The penalty depends on the amount, the victims and each person’s role. This table does not replace a lawyer’s analysis.
These cases are won on traceability. Wallets, bridges, mixers and exchange off-ramps: reconstructing the on-chain path and identifying the cash-out point guides the defence and the recovery strategy.
We separate the organiser from the mere intermediary. A money mule, a good-faith promoter or a manipulated account holder do not bear the organiser’s liability — which must be established, item by item.
Investors deceived by fake platforms seeking to recover funds.
People accused as money mules or presumed intermediaries.
People who promoted a platform without knowing it was fraudulent.
Companies facing impersonation or suspicious flows.
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