Europol: International operation dismantles cryptocurrency scam network suspected of laundering over 700 million euros

The European Cybercrime Centre released a statement on Thursday announcing that a large-scale international operation successfully dismantled a major cryptocurrency fraud and money laundering network, with laundered amounts exceeding 700 million euros.

This operation spanned multiple jurisdictions and was conducted last month and earlier this week, marking the successful conclusion of years of investigation, effectively disrupting criminal activities across Europe and other regions. The criminal network operated numerous fraudulent cryptocurrency investment platforms, attracting thousands of victims with promises of high returns through advertisements. Subsequently, criminal call centers used social engineering techniques to show victims inflated profits on fake trading platforms, pressuring them to make further payments. Once the funds were transferred, they were stolen and laundered through multiple blockchains and exchanges. Investigations revealed that the network involved several fraudulent platforms and complex financial structures.

On October 27, 2025, the first phase of the operation was launched, with police from Cyprus, Germany, and Spain conducting coordinated raids at the request of French and Belgian authorities, resulting in the arrest of nine suspects and the seizure of assets worth millions of euros. From November 25 to 26, the second phase focused on affiliate marketing infrastructure, with law enforcement teams from Belgium and other countries conducting operations with the support of the European Cybercrime Centre. Investigative agencies will continue to track the assets of this criminal organization.