• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Tuesday, July 8, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto

Criminal Probe Launched Into $3.4 Million Crypto Fraud Involving Elite Footballers

by Anindya Paul
June 11, 2025
in Crypto, News
Reading Time: 4 mins read
0
Crypto

Source: Digital Watch Observatory

TwitterWhatsappLinkedin

Introduction

Six high-profile footballers, including World Cup winners and former stars of Barcelona and Sevilla, are under investigation in Barcelona over their involvement in a failed crypto and NFT scheme. Investors claim to have lost at least $3.4 million (about €3 million) when the platform backed by these players collapsed.

You might also like

A New Cyberattack on LVMH, Louis Vuitton Korea Highlights Escalating Threats to Luxury Retail

A Guide for NRIs Sending Money to India Without US Remittance Tax

iPhone 17 Pro Max Set to Boast Largest iPhone Battery Yet, with a Premium Price Tag

The Alleged Scheme: Shirtum Europa SLU and the $SHI Token

Barcelona’s Fifth District Court has opened a criminal probe into Shirtum Europa SLU, a crypto startup that sold NFTs tied to the image rights of footballers. These NFTs were purchasable only via the proprietary $SHI token and ranged in price, with some costing more than €450 ($513).
Despite assurances, the promised trading platform never materialised. Instead, victims were left holding non functional digital tokens.

Who’s Involved? Footballers in the Spotlight

The footballers named in the criminal complaint include:

  • Alejandro “Papu” Gómez (World Cup winner)
  • Lucas Ocampos (World Cup winner)
  • Ivan Rakitić, Javier Saviola, Nico Pareja, Alberto Moreno (ex-Barcelona and Sevilla stars).

They served as public ambassadors and were even presented as “founders” of the venture, lending it legitimacy. Allegedly, Gómez played a pivotal role in recruiting others before erasing all traces of the project from social platforms.

The Masterminds and the Architecture

The operation is said to have been masterminded by Argentine businessman David Rozencwaig, Catalan entrepreneurs Manel Ángel Torras, his son Marc Alberto Torras, and Manuel Morillas.
Investigators considered the organization as a “spider web” in Spain and Andorra to evade taxes, and to potentially shield themselves from liability. Experts have done economic analysis and provided a report, authored by economist Prosper Lamothe; specifically on indirect taxes, indirect tax, indirect taxation, indirect taxation or tax evasion in a convoluted structure that “is opaque and tax-evasive”.

Allegations and Legal Status

The investigation is the result of a complaint filed by 12 investors, early in the year, alleging that Shirtum took millions of dollars for personal use and that after soliciting more funding promised they had been hacked a few times in March 2022 – which was never reported, planned, etc. and abandoned or stopped fundraising.
Barcelona’s courts are now processing up to 11 possible charges, including fraud, embezzlement, tax evasion, and false advertising. While preliminary hearings are scheduled for mid June, no formal charges have been announced yet.

Broader Context: Crypto Meets Football

The Shirtum case unearths deeper issues in sport-linked crypto ventures. When Spain’s 2021 ban on gambling adverts left sponsorship voids in La Liga, crypto jumped in to fill the gap.
Yet many high-profile partnerships soon soured, leaving clubs with unpaid fees and investors with little to show. As Mohith Agadi of Fact Protocol remarked:
“People see big names like football stars and think it’s a safe bet, but that trust can be exploited.” 
This story is eerily reminiscent of larger scams like Omegapro, where celebrity endorsements drew in billions before collision.

What Lies Ahead

Investigators are looking into whether these footballers were unwitting participants or knew about the fraud. Aside from the criminal aspects, the case could change how athletes engage with the promotion of crypto, with more scrutiny, and tighter regulations.
At this point in time, it remains to be seen what will happen, depending on the court’s ruling, investor accounts and expert testimonies. What is for sure is that celebrity endorsement in the crypto space has been put under a larger microscope – and rightfully so.

Conclusion

The Shirtum fiasco serves as a cautionary tale: when high-profile individuals are endorsing hype-fueled crypto or NFT projects, due diligence is critically important. With millions of dollars lost and reputations to protect, the ruling from the court could help shape the way that celebrity-endorsed crypto projects are sanctioned and viewed in the public eye.

Tweet54SendShare15
Previous Post

New Legal Framework Paves Way for Won Backed Stablecoins in South Korea

Next Post

European Digital Sovereignty – What It Means for American Tech Giants

Anindya Paul

Professional content creator with strong expertise in content writing, filmmaking and social media strategy. Skilled in digital storytelling, scriptwriting, video production, sound design and graphic design - crafting compelling narratives across platforms. Known for delivering high-quality, engaging content under tight deadlines. A collaborative team player with a sharp creative instinct, adaptability to evolving trends, and a focus on impactful, results-driven communication.

Recommended For You

A New Cyberattack on LVMH, Louis Vuitton Korea Highlights Escalating Threats to Luxury Retail

by Anochie Esther
July 8, 2025
0
LVMH

LVMH Moët Hennessy Louis Vuitton SE (LVMUY), the world's leading luxury fashion conglomerate, is once again grappling with the fallout of a cyberattack. The company confirmed that its...

Read more

A Guide for NRIs Sending Money to India Without US Remittance Tax

by Anochie Esther
July 8, 2025
0
NRIs

The financial landscape for Non-Resident Indians (NRIs) in the United States is set to shift with the recent passage of a bill by the US Senate. Effective January...

Read more

iPhone 17 Pro Max Set to Boast Largest iPhone Battery Yet, with a Premium Price Tag

by Anochie Esther
July 8, 2025
0
iPhone 17 Pro Max

Apple is gearing up for one of its most significant tech unveilings of 2025, with the highly anticipated iPhone 17 lineup expected to debut in September. This year's release...

Read more
Next Post
European Digital Sovereignty – What It Means for American Tech Giants

European Digital Sovereignty – What It Means for American Tech Giants

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?