Dutch police arrest two men for EURC token fraud targeting Rolex sellers
In brief
- Dutch police arrested two men for using counterfeit EURC tokens to purchase Rolex watches on Marktplaats.
- Fake crypto closely resembled legitimate EURC, a euro-denominated stablecoin used in the fraud scheme.
- Multiple victims reported losses in August 2025; authorities investigating possible links to additional fraud cases.
The Scheme
Dutch police arrested two men accused of using counterfeit EURC tokens to buy real Rolex watches in an unusual cryptocurrency fraud scheme. Several victims reported being defrauded in August 2025, according to the Oost-Nederland police unit.
The suspects allegedly targeted sellers on Marktplaats, a major Dutch online marketplace. They arranged payments for luxury watches with EURC before transferring fake crypto that seemed to be genuine. The sellers believed they had received legitimate EURC and handed over their Rolex watches, only to discover later that the tokens were counterfeit.
The Counterfeit Tokens
EURC is a legitimate euro-denominated stablecoin. But blockchain users can encounter unofficial tokens that imitate the names and symbols of legitimate crypto. Police said the counterfeit cryptocurrency used in the alleged scheme was difficult to distinguish from genuine EURC.
Authorities have not publicly detailed exactly how the counterfeit tokens were created. The investigation remains ongoing. Police are currently examining whether the two suspects may be connected to additional cryptocurrency fraud cases.
Investigation Status
Two suspects, aged 24 and 45, were arrested on Wednesday, September 9. The 45-year-old suspect has since been released from custody but remains under investigation. Authorities advised people to rely on payment methods they understand and trust.
