Authorities have broken an extensive cryptocurrency fraud and money laundering network that moved over EUR 700 million after years of international investigation.
The operation began with an investigation into a single fraudulent cryptocurrency platform and eventually uncovered an extensive network of fake investment schemes targeting thousands of victims.
Victims were drawn in by fake ads promising high returns and pressured via criminal call centres to pay more. Transferred funds were stolen and laundered across blockchains and exchanges, exposing a highly organised operation across Europe and beyond.
Police raids across Cyprus, Germany, and Spain in late October 2025 resulted in nine arrests and the seizure of millions in assets, including bank deposits, cryptocurrencies, cash, digital devices, and luxury watches.
Europol and Eurojust coordinated the cross-border operation with national authorities from France, Belgium, Germany, Spain, Malta, Cyprus, and other nations.
The second phase, executed in November, targeted the affiliate marketing infrastructure behind fraudulent online advertising, including deepfake campaigns impersonating celebrities and media outlets.
Law enforcement teams in Belgium, Bulgaria, Germany, and Israel conducted searches, dismantling key elements of the scam ecosystem. Investigations continue to track down remaining assets and dismantle the broader network.
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