⚡️🇪🇺 NEW - EU authorities dismantle €600 million…
⚡️🇪🇺 NEW - EU authorities dismantle €600 million crypto scam network in simultaneous raids across three countries.
Coordinated by Eurojust, the European Union's judicial cooperation agency, the operation led to the arrest of nine suspects and the seizure of more than €1.5 million in various assets, including cryptocurrencies.
The criminal network, active across Europe, had set up dozens of fake crypto investment platforms.
These sites mimicked the appearance of legitimate platforms and promised high returns to investors attracted by social media advertisements, persistent phone calls, and even fake celebrity testimonials.
Once the funds were transferred into cryptocurrency, the victims lost access to their funds permanently.
The case began after several complaints from victims in Europe, mainly in France and Belgium.
At the instigation of Eurojust, a joint Franco-Belgian investigation team was quickly set up. Given the scale of the network, Germany, Cyprus, and Spain then joined the cooperation.
Eurojust coordinated a simultaneous operation on October 27 and 29.
Law enforcement agencies arrested nine suspects at their homes in Cyprus, Spain, and Germany.
The searches led to the seizure of:
- €800,000 in bank accounts
- €415,000 in cryptocurrency
- €300,000 in cash
Investigations are continuing in order to identify the other members of the network and trace the financial flows linked to the €600 million that disappeared into the depths of the blockchain.