European Authorities Dismantle €600 Million Crypto Fraud Network in Global Sweep
Nov 04, 2025
Cybercrime / Money Laundering
Nine people have been arrested in connection with a coordinated law enforcement operation that targeted a cryptocurrency money laundering network that defrauded victims of €600 million (~$688 million). According to a statement released by Eurojust today, the action took place between October 27 and 29 across Cyprus, Spain, and Germany, with the suspects arrested on charges of involvement in money laundering from fraudulent activities. In addition to the arrests of the individuals from their homes, authorities conducted searches that led to the seizure of €800,000 ($918,000) in bank accounts, €415,000 ($476,000) in cryptocurrencies, and €300,000 ($344,000) in cash. Participating nations in the "synchronized" effort alongside Eurojust were agencies from France, Belgium, Cyprus, Germany, and Spain. "The members of the network created dozens of fake cryptocurrency investment platforms that looked like legitimate websites and promised high returns," Eurojust said . ...