Europol: International operation dismantles cryptocurrency scam network suspected of laundering over €700 million.

PANews reported on December 5th that Europol announced on Thursday that a large-scale international operation had successfully dismantled a major cryptocurrency fraud and money laundering network, involving over €700 million. The operation, spanning multiple jurisdictions and conducted last month and earlier this week, marks the successful conclusion of a years-long investigation, effectively halting criminal activity across Europe and other regions. The criminal network operated numerous fake cryptocurrency investment platforms, attracting thousands of victims with advertisements promising high returns. Subsequently, a criminal call center used social engineering techniques to show victims inflated returns on these fake trading platforms, pressuring them to make further payments. Once funds were transferred out, they were stolen and laundered through multiple blockchains and exchanges. The investigation revealed that the network involved multiple fraudulent platforms and a complex financial structure.

On October 27, 2025, the first phase of the operation commenced, with police from Cyprus, Germany, and Spain conducting coordinated raids at the request of French and Belgian authorities. Nine suspects were arrested, and assets worth millions of euros were seized. From November 25 to 26, the second phase focused on the alliance's marketing infrastructure, with law enforcement teams from Belgium and other countries conducting operations supported by Europol. Investigative agencies will continue to track the criminal organization's assets.