The final actions in a sweeping global operation have successfully dismantled a large-scale cryptocurrency fraud and money laundering network that had laundered over USD 819 million. This was coordinated across multiple jurisdictions. These actions, carried out during the last month and earlier this week, mark the culmination of years of investigation and the effective disruption of a criminal operation that spanned Europe and beyond.
What began as an investigation into a single fraudulent cryptocurrency platform gradually unfolded into a complex, far-reaching operation. The investigations eventually revealed a vast network of deceit and money laundering.
These criminal networks operated many fake cryptocurrency investment platforms. They lured thousands of victims with sophisticated advertisements that promised high returns. The victims were then repeatedly contacted by criminal call centres. Callers used social engineering to pressure victims into making additional payments. Their goal was achieved by showing them inflated returns on fake trading platforms.
Upon transferring their cryptocurrency, the perpetrators stole and laundered their funds across numerous blockchains and cryptocurrency exchange platforms. Investigations revealed the layers of the operation. Nevertheless, it became clear that the network had grown much beyond a single fraud scheme. It involved many fraudulent platforms and sophisticated financial infrastructure, which spanned Europe and beyond.
Nearly two months ago, on October 27, 2025, the first phase of the operation was executed. Coordinated police raids took place across numerous countries, including Cyprus, Germany, and Spain. These raids were at the request of French & Belgian authorities. These initial actions led to the arrest of 9 individuals suspected of laundering illicit funds generated by fraudulent cryptocurrency platforms.
Authorities seized millions of euros in assets, which included the following in US dollar equivalents:
USD 936,000 in bank accounts
USD 70,550 in cryptocurrencies
USD 351,000 in cash
Digital devices
High-value watches
The operation was executed in close collaboration with national authorities from France, Belgium, Germany, Spain, Malta, Cyprus and other countries. Europol and Eurojust supported this initial phase of the investigation.
