Dutch police have arrested two men accused of using counterfeit EURC tokens to purchase genuine Rolex watches. The incident occurred on the Dutch online marketplace Marktplaats, where multiple sellers delivered watches after seeing what appeared to be stablecoin payments.
Multiple sellers filed reports in August 2025.
According to NL Times, citing the Eastern Netherlands Police, victims filed reports in August 2025. The suspects first agreed with sellers to pay using EURC, then transferred counterfeit tokens that closely resembled genuine ones. The sellers mistakenly believed they had received legitimate EURC and subsequently completed the delivery.
The police stated that the tokens used in the crime are difficult to distinguish from genuine EURC, but have not yet disclosed the specific methods used to create these counterfeit tokens.
Counterfeit tokens borrow the names and symbols of legitimate tokens.
EURC is a compliantly issued euro stablecoin, but on-chain, anyone may create tokens with similar names or symbols. If such tokens appear in wallet interfaces or transfer records in a way that closely resembles the genuine asset, ordinary users may struggle to identify them immediately.
This case highlights that stablecoin payments involve more than just price or settlement risks; recipients must also verify the token contract address, issuer information, and whether the assets originate from the official version.
Two suspects have been arrested, and the investigation is ongoing.
Police reported that two suspects, aged 24 and 45, were arrested on September 9. The 45-year-old suspect has been released but remains under investigation.
Currently, law enforcement agencies are investigating whether the two individuals are connected to other cryptocurrency fraud cases. Police also remind users to prioritize payment methods they are familiar with and can verify, and avoid judging asset authenticity based solely on token names.