European Crypto Scam Network Dismantled After Laundering $815M

Authorities across Europe dismantled a large-scale crypto-investment fraud network responsible for stealing and laundering over 700 million euros ($815 million). The criminal group operated numerous fake crypto-trading platforms, attracting victims with sophisticated ads promising high returns. Victims were then directed to call centers where operators used social engineering to extract more funds, which were subsequently laundered through complex blockchain and exchange networks. Coordinated raids in Cyprus, Germany, and Spain on October 27 resulted in nine arrests and seizures of assets. A follow-up operation targeted the affiliate-marketing infrastructure feeding the scheme. The operation highlights the increasing sophistication of crypto-investment scams, which rely heavily on cross-border laundering, data exploitation, and deceptive marketing.

(Source：CoinDesk)