Cape Town seizes Mercedes linked to crypto scam

Authorities in Cape Town, South Africa, have seized a luxury vehicle linked to cryptocurrency investment scams and money laundering, Bitcoin.com reported. During a nighttime operation, Cape Town Mayor Geordin Hill-Lewis and local police confiscated a silver Mercedes-AMG GLE valued at $153,000, which had been falsely registered as a white BMW. Authorities stated that such high-end vehicles are used by self-proclaimed crypto and forex traders and finfluencers to flaunt wealth and lure victims into fraudulent schemes. The seizure follows a March report from the Global Initiative Against Transnational Organized Crime (GI-TOC) that identified South Africa as an emerging hub for organized crypto fraud. The report noted that international criminal organizations based in Cape Town and Johannesburg are conducting global scams using deepfakes, cloned apps, and fake investment platforms. These illicit funds are reportedly laundered through crypto wallets, money mules, and physical assets like unregistered luxury cars.