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.
