French authorities have apprehended a mother and son duo believed to have defrauded a wealthy couple out of approximately $1.8 million in cryptocurrencies during a fraudulent villa transaction, following an extensive year-long investigation.
Details of the Scam
The suspects, both arrested by police from the Gassin–Saint-Tropez gendarmerie on June 25 at a rented property in Cavalaire-sur-Mer, are accused of executing a complex scam that took advantage of a couple from Ramatuelle who were trying to sell their luxury villa priced at around €10 million (roughly $12 million) in the spring of 2025.
As reported by Var-Matin, the alleged fraudsters posed as intermediaries for a fictional affluent Italian buyer and invited the victims to Milan for discussions. During these meetings, the supposed buyer purportedly offered to pay above the asking price but insisted that the sellers provide proof of their capability to cover transaction costs amounting to €1.5 million ($1.8 million) using crypto assets.
How the Scheme Operated
According to investigators, the second meeting in Milan was critical for the execution of the scam. The suspects claimed they needed to verify the existence of the required cryptocurrency holdings before moving forward with the sale.
Investigators believe the pair secretly captured the victims' wallet information using hidden camera glasses to get sensitive credentials. By distracting the sellers, they allegedly managed to access private security keys and account details, leading to an immediate theft of the couple's crypto savings.
Legal Proceedings and Rising Crypto Crimes
Despite using false identities and evading law enforcement while traveling frequently across France, the gendarmerie successfully identified the suspects through diligent investigation efforts. The defendants, who reside in the Paris area and have previous convictions for similar frauds, denied all allegations during questioning.
They are now under legal supervision and are set to appear in the Draguignan Criminal Court on September 1 to face multiple charges, including organized fraud and failure to justify financial means. Additionally, French courts have ordered the seizure of three properties in Côte d’Azur worth an estimated total of €1.9 million as the case unfolds.
This arrest comes at a time when France has been experiencing a worrying upsurge in cryptocurrency-related crimes, which have ranged from kidnappings to extortion. The events underline the increasing danger associated with crypto transactions, described in this instance as a classic “rip deal” rather than outright violent crime.
