Foto: Europol
European authorities have dismantled a major crypto fraud network that laundered over €700 million through fake platforms and clever marketing tricks.
The operation highlights how organized crypto fraud is becoming increasingly sophisticated, but also shows that regulators are scaling up their efforts to protect investors.
How Did the Crypto Fraud Work? #
According to Europol, the group ran a series of fake trading platforms that promised high returns through convincing ads, sometimes even using deepfake videos.
Victims who registered were directed to call centers where employees pressured them into depositing more money. Once the funds were in, they vanished into a web of blockchains and crypto exchanges.
This combination of aggressive sales tactics, misleading ads, and advanced money laundering methods allowed the network to stay under the radar for years.
Coordinated European Actions #
The first major action took place on October 27, when police units in Cyprus, Germany, and Spain conducted simultaneous raids. Nine suspects were arrested, and bank accounts, cryptocurrencies, cash, electronics, and luxury goods were seized.
In a second operation on November 25 and 26, authorities targeted the marketing machine behind the fraud. They shut down companies responsible for the online campaigns and data collection used to find new victims.
The investigation by Interpol revealed that the network was much more than a fraudulent website. It consisted of a complete financial and technical infrastructure supporting multiple platforms.
More Cooperation and Better Protection #
The scale of this network shows how developed crypto fraud has become within Europe.
For Dutch and Belgian investors, it emphasizes that professional scam organizations are active in our region and targeting European consumers.
That European authorities have now dismantled this network shows that regulators are working more closely together and intervening faster.
Europol’s announcement comes shortly after the takedown of a crypto mixer that had laundered more than €1.3 billion in bitcoin. The signal is clear: European law enforcement agencies are cracking down hard on illegal crypto activities.
For investors, vigilance remains important, but this week’s intervention shows that enforcement within Europe is getting stronger.