The investigation, conducted by Uppdrag granskning and journalists from about thirty countries in collaboration with the international investigative network OCCRP, mapped how the fraudsters worked. Using manipulated websites and apps, victims were lured into investing in cryptocurrency, but the sites where it looked like the money was growing were fake. The fraudsters continued to pressure their victims to pay fees to get their money back, according to the investigation. Among the three million leaked files were recorded calls that revealed how victims were manipulated and mocked when their money was gone, with over 40,000 calls going to Sweden.
The investigation revealed how the fraudsters operated in 'call centers' in places like Tbilisi, Georgia, which functioned as global companies with offices, HR departments, and payrolls. Through the work, several of the leading fraudsters were identified, though their specific names have not been disclosed. The operation in Tbilisi was shut down, properties were seized, and a couple of people were arrested, but the total number of arrests remains unclear. However, the fraud operation resumed in another location, which has not been specified. Investment fraud is classified as a global threat by Interpol, highlighting the ongoing risks.
Uppdrag granskning has been nominated for the European Press Prize, a European equivalent to the Pulitzer Prize in the USA. The nomination means that Uppdrag granskning is now competing against some of Europe's most high-profile journalistic revelations. The winners will be presented in June.