International Operation Dismantles Network Behind Over EUR 700 Million in Crypto Fraud

Authorities across Europe and beyond have completed a major coordinated takedown of a criminal network responsible for laundering more than EUR 700 million through fraudulent cryptocurrency investment schemes. The final enforcement actions took place earlier this week, marking the culmination of a multi-year investigation spanning numerous jurisdictions.

Investigators said the probe began with a single fraudulent trading platform but soon uncovered a sprawling ecosystem of fake investment websites, call centres, and money-laundering channels. Victims were enticed through polished online ads promising high returns, then pressured into repeated payments by call-centre operators showing fabricated profits on fake dashboards.

Stolen funds were routed through complex chains of cryptocurrency exchanges and blockchain networks to obscure their origin.

The opening phase of the operation took place on 27 October 2025, with police conducting coordinated raids in Cyprus, Germany, and Spain at the request of French and Belgian authorities. Nine suspects were arrested.

Authorities seized:

EUR 800,000 in bank accounts

EUR 415,000 in cryptocurrency

EUR 300,000 in cash

Digital devices

High-value watches

Europol and Eurojust supported the cross-border effort, helping align intelligence and strategy.

Second Phase: Targeting the Marketing Machine

A second wave of actions on 25–26 November 2025 targeted the affiliate marketing infrastructure behind the scams. These operations focused on companies and individuals running deceptive advertising campaigns, including ads using deepfake videos and impersonating media outlets, celebrities, and political leaders.

Law enforcement teams carried out searches in Belgium, Bulgaria, Germany, and Israel, with Europol assisting during the operations. Investigators said the misuse of personal data obtained through manipulated ads is a central pillar of the global crypto-scam ecosystem.

Authorities said the operation dismantled key components of the network, from the marketing funnels that recruited victims to the laundering systems that moved stolen funds. More than EUR 700 million in illicit flows have been traced so far.