TL;DR
- European authorities uncover a major cross-border crypto investment fraud.
- The scam used fake trading platforms and aggressive sales tactics.
- Police conducted raids in Spain, Cyprus, and Germany, making arrests.
European law enforcement agencies report a large crypto investment fraud network that drained funds from retail investors across several countries. Authorities describe a structure built around fake trading portals, aggressive sales desks and complex laundering chains that route money through exchanges and banks.
Investigators say fraud operators created online platforms that simulate regulated brokers. Screens show fake balances, fabricated performance charts and supposed exposure to Bitcoin and other crypto assets. Call center staff contact victims, present themselves as advisors and push deposits in fiat and crypto. As transfers arrive, organizers redirect funds through layers of wallets, shell accounts and payment providers.
Cross-Border Task Forces Track More Than €700 Million
Raids in late October mark the first coordinated strike against the financial core of the network. Police units in Spain, Cyprus and Germany execute search warrants against suspected money handlers connected to the scheme. Officers seize cash in multiple currencies, take control of cryptocurrencies, freeze bank accounts and remove luxury goods purchased with illicit proceeds. Authorities detain nine suspects during this phase.
Support from Europol and Eurojust plays a key role. Agencies share intelligence, align procedures and secure cooperation from teams in France, Belgium, Malta and Cyprus. Case files indicate that more than €700 million flowed through wallets and accounts linked to the operation, a figure that likely represents only part of the overall damage to victims in multiple regions.
