International police dismantle €700 million crypto fraud network

An extensive international police operation has successfully dismantled a large-scale cryptocurrency fraud and money laundering network that had laundered over €700 million, based on information published by HackRead.

The criminal organization tricked thousands of victims into fake crypto investments using deceptive ads and deepfake videos impersonating media outlets, celebrities, and politicians. Scammers created numerous fake investment sites, promising high returns and pressuring victims through malicious call centers to send more money. Once received, the cryptocurrency was immediately moved across various online systems and exchanges to obscure the trail. The operation involved two major phases, with key actions on October 27, 2025, leading to nine arrests in Cyprus, Germany, and Spain, and seizures including €300,000 in cash, €800,000 in bank accounts, and €415,000 in cryptocurrencies. A second phase on November 25 and 26, 2025, targeted the network's affiliate marketing and social media advertising infrastructure, with searches conducted in Belgium, Bulgaria, Germany, and Israel.

This operation highlights the significant threat posed by sophisticated online financial crime and the effectiveness of international cooperation through bodies like Europol and Eurojust.

Source: HackRead