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EURC Dutch police have cracked a case of using counterfeit euro stablecoins to buy Rolex watches.
Dutch police have recently arrested two men accused of using counterfeit EURC tokens to defraud multiple Rolex watches from sellers on Marktplaats, a large Dutch online trading platform.
Case history and investigation results
Multiple victims reported losing their Rolex watches after receiving seemingly normal payments from EURC. These fake EURC payments appear normal in their digital wallets, causing sellers to mistakenly believe that the transactions are real and valid. Later, when the victim tried to exchange the tokens received for euros, he discovered that the assets were worthless.
On September 9, police arrested a 24-year-old man from Geleen and a 45-year-old man from Leiden based on a tip dating back to August 2025. During a search of the 24-year-old suspect's home in Glien, police found firearms and drugs. Currently, the 24-year-old suspect has been detained for 14 days. The other 45-year-old suspect has been released, but is still under investigation on suspicion of cryptocurrency fraud.
Authorities described the counterfeit tokens as "at first glance indistinguishable from legal EURCs." However, the police statement did not specify the blockchain network involved, provide wallet addresses or transaction hashes, nor did it explain how the counterfeit tokens were created. Therefore, it is not yet possible to independently match alleged payment records with public blockchain data.
Background information on EURC stablecoins
EURC是由Circle Internet Financial Europe SAS发行的合法欧元计价稳定币。Circle官方表示，每一枚真实的EURC均由欧元储备全额支持，并设计为可按一比一的比例兑换为欧元。该代币在欧盟《加密资产市场框架》（MiCA）下运营，其白皮书将其归类为电子货币代币，并指出储备金由存放在受监管金融机构隔离账户中的欧元或欧元计价资产组成。
截至9月17日，Circle报告的EURC流通量约为4.11亿欧元。发行方定期公布储备信息和月度鉴证报告，旨在让用户能够核对未偿还代币供应量与支持资产之间的关系。自2026年以来，Circle通过其Mint基础设施在Avalanche、Base、Ethereum、Solana、Stellar和World Chain等网络上提供了原生EURC支持。
警方警示：警惕钱包显示的误导性
警方警告称，对于不熟悉加密货币的人来说，伪造资产起初可能具有欺骗性。数字钱包可以显示代币名称和余额，但这并不能证明该资产来自合法发行商或具有市场价值。代币符号、标志或在钱包界面中熟悉的代币名称并不能独立证明资产的来源。
当局建议卖家使用他们熟悉且信任的支付方式。警方指出，如果买家施加压力要求接受一种不熟悉的支付方式，这应被视为一个危险信号。
Such token impersonation techniques have also appeared in other cryptocurrency markets. For example, there have been previous reports of counterfeit stablecoins targeted at exchanges on the TON network, as well as counterfeit tokens that impersonate well-known cryptocurrency brands. Although the methods in these cases are irrelevant to the case, they once again emphasize the importance of verification. Before accepting large cryptocurrency payments, it is crucial to verify that the token issuer, blockchain network and official contract information are consistent with the records published by the issuer.
The investigation is continuing
Currently, police have not disclosed the number, total value of stolen Rolex watches or the exact number of identified victims. The official statement only mentioned multiple reports and several watches, but did not give a specific estimate of economic losses. Both men are currently in suspect status, the charges are still under investigation, and no convictions or court decisions have been announced. Investigators are inspecting the seized data storage devices and investigating whether the two men are connected to other cryptocurrency fraud cases.
