European Police Dismantle €600 Million Cryptocurrency Investment Fraud Network
European law enforcement agencies arrested nine individuals suspected of operating a large-scale cryptocurrency investment fraud network that defrauded victims of over €600 million. The suspects allegedly created dozens of fake cryptocurrency investment platforms, luring victims with promises of high returns through social media ads, cold calls, and fabricated celebrity endorsements. Once funds were transferred, victims were unable to recover their money, while the criminals laundered the stolen assets using blockchain technology. The coordinated operation, led by Eurojust and involving authorities from France, Belgium, Cyprus, Spain, and Germany, resulted in simultaneous arrests and searches in Cyprus, Spain, and Germany, with significant seizures of cash, cryptocurrencies, and bank assets.
The investigation revealed that the network used sophisticated methods to conceal the origins of the stolen funds, cycling them through various wallets and exchanges. Authorities seized €800,000 in bank accounts, €415,000 in cryptocurrencies, and €300,000 in cash during the raids. The operation underscores the growing threat of organized cybercrime leveraging fake investment platforms to target individuals across Europe, and highlights the importance of international cooperation in combating large-scale financial fraud in the cryptocurrency sector.
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How this story unfolded
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Law enforcement seizes assets tied to the €600 million crypto fraud case
During the European operation, authorities seized significant assets connected to the fraud and laundering network. The seizures were part of the broader dismantling of the criminal organization.
European authorities arrest nine suspects in coordinated cross-border raids
Europol and Eurojust, working with national authorities, carried out a coordinated operation in Cyprus, Spain, and Germany that led to the arrest of nine suspects linked to the crypto fraud and money laundering network. The action also disrupted the infrastructure supporting the scheme.
Fraud network steals over €600 million via fake crypto investment platforms
A criminal network defrauded victims worldwide of more than €600 million using fake cryptocurrency investment platforms. The scheme was promoted through social media, cold calls, and fabricated endorsements, while laundering methods were used to hide the proceeds.
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Cryptohack Roundup: Europol Busts 600M Euro Fraud Network
govinfosecurity.com
Open sourceCryptohack Roundup: Europol Busts 600M Euro Fraud Network
bankinfosecurity.com
Open sourceNine arrested in €600M crypto laundering bust across Europe
securityaffairs.com
Open sourceMajor crypto fraud network disrupted by European law enforcement
scworld.com
Open sourcePolice arrests suspects linked to €600 million crypto fraud ring
bleepingcomputer.com
Open source9 arrested in Europe in operation against fake platforms for crypto investments
therecord.media
Open sourceEuropol and Eurojust Dismantle €600 Million Crypto Fraud Network in Global Sweep
thehackernews.com
Open sourceEuropean authorities dismantle €600 million crypto scam network
helpnetsecurity.com
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European Police Dismantle €50 Million Crypto Investment Fraud Call-Center Network
Austrian and Albanian authorities, supported by **Europol** and **Eurojust**, dismantled a large online investment fraud operation that allegedly stole at least **€50 million** from victims across Europe and other regions. The network operated from call centers in **Tirana, Albania**, where investigators said it was run like a legitimate business with up to **450 employees** spanning management, finance, IT, HR, customer acquisition, and retention roles. Victims were lured through fake broker and cryptocurrency investment platforms promoted on search engines, websites, and social media, then pressured by multilingual operators posing as brokers or advisers to transfer more money. A coordinated action on **17 April** led to **10 arrests**, searches of **three call centers** and **nine homes**, and the seizure of **€891,735 in cash** along with hundreds of computers and phones. Investigators said the group used remote access software and an international money-laundering scheme to divert funds rather than invest them, and in some cases targeted victims a second time with a bogus recovery service that demanded a **€500** cryptocurrency payment. Authorities said the seized infrastructure and data are expected to support additional investigations in other affected countries.
May 4, 2026
Major International Law Enforcement Actions Against Cybercrime and Financial Fraud Networks
Law enforcement agencies across multiple countries have conducted significant operations targeting cybercriminal groups responsible for large-scale financial fraud, data breaches, and cryptocurrency theft. In Spain, police arrested a 19-year-old hacker accused of stealing and attempting to sell 64 million personal data records from nine companies, while Ukrainian authorities apprehended a separate data broker who used custom malware to compromise accounts and sell access on hacker forums. In California, a member of the so-called "Social Engineering Enterprise" pleaded guilty to laundering millions in cryptocurrency stolen through sophisticated social engineering attacks, with the group responsible for a $263 million heist and extravagant spending of the proceeds. Meanwhile, Russian police dismantled a gang that used NFCGate-based malware to steal millions from bank customers by tricking victims into installing fake banking apps and harvesting card credentials for remote theft. A major international operation led by Europol and Eurojust dismantled a €700 million cryptocurrency scam network in Europe that used deepfake videos and aggressive marketing to lure victims into fake investment schemes. The network operated numerous fraudulent platforms, laundered funds through complex channels, and was taken down in coordinated raids across several countries, resulting in arrests and the seizure of cash, cryptocurrencies, and luxury items. These actions highlight the growing sophistication of cyber-enabled financial crime and the increasing collaboration between law enforcement agencies to disrupt such operations on a global scale.
Mar 21, 2026
European Law Enforcement Takedowns of Phishing and Investment-Fraud Networks
European law enforcement reported multiple cyber-enabled fraud disruptions, including a Eurojust-supported operation that dismantled a **fraudulent call-centre network** operating from three offices in Dnipro. Authorities from Latvia, Lithuania, and Ukraine arrested **11 suspects**, seized **more than €400,000** in cash, and collected electronic evidence (computers, SIM cards, documents) during searches at **32 locations**. The group allegedly ran a fake cryptocurrency investment platform and used **remote access software** to gain access to victims’ online banking and move funds to accounts and crypto wallets under their control. Separately, Poland’s Central Bureau for Combating Cybercrime (CBZC) dismantled an organized group operating in Poland and Germany that used **phishing** to hijack Facebook accounts and extract **BLIK** payment codes. Investigators identified **11 group members**, placed **six** in pretrial detention, and seized **over 100,000** stolen Facebook credentials; prosecutors filed **400+ charges** including unauthorized access, online fraud, and money laundering. A South Korean case involving the breach of Seoul’s bike-hire service *Ttareungyi* (4.62 million users affected) is a distinct incident and not part of the European takedown actions described above.
Mar 21, 2026