All news with #crypto fraud tag

European Police Bust €600M Cryptocurrency Investment Fraud

🔎 European authorities arrested nine suspected money launderers tied to a crypto investment fraud ring that stole over €600 million from victims across multiple countries. The coordinated raids on October 27 and 29 in Cyprus, Spain and Germany were led by Eurojust from The Hague. Investigators seized €800,000 in bank accounts, €415,000 in cryptocurrencies and €300,000 in cash. The suspects allegedly used dozens of fake investment platforms and social engineering — including social media ads, cold calls, fake news and celebrity testimonials — to recruit victims and then laundered proceeds using blockchain tools.

European Police Bust €100m Cryptocurrency Fraud Ring

🔍 A Eurojust-coordinated joint action day led to the arrest of five suspects, including the alleged mastermind of a cryptocurrency investment fraud that reportedly seized €100m from victims across 23 countries. Authorities say the multi-year scheme, active since at least 2018, used professionally designed websites to promise high returns and then demanded additional fees to process withdrawals before sites went offline. Europol provided operational and analytical support while the joint investigation team helped coordinate cross-border activity.

European police dismantle crypto fraud ring, €100M loss

🚨 Five suspects were arrested in a cross-border crackdown on a cryptocurrency investment fraud ring that stole over €100 million from more than 100 victims. The operation, coordinated by Eurojust and supported by Europol, involved investigative teams from Spain, Portugal, Bulgaria, Italy, Lithuania and Romania and included searches and asset freezes. The scam, active since at least 2018, lured investors with promises of high returns and routed funds to bank accounts in Lithuania; victims were later asked to pay recovery fees before platforms went offline.