Europol: International operation dismantles cryptocurrency fraud network involving over $815 million.

According to Odaily, international law enforcement agencies have dismantled a cryptocurrency fraud and money laundering network that laundered more than €700 million (approximately US$815.75 million) through fake investment platforms.

Authorities conducted two coordinated raids in October and November, resulting in the arrest of multiple suspects, the seizure of millions of dollars in assets, and the disruption of key marketing and money laundering infrastructure.

The first raids were conducted on October 27 in Cyprus, Germany, and Spain, resulting in the arrest of nine suspects on suspicion of money laundering and the seizure of €800,000 (approximately US$932,000) in bank account funds, €415,000 (approximately US$483,500) in cryptocurrency assets, €300,000 (approximately US$349,500) in cash, and other high-value items.

The second operation, conducted from November 25 to 26, targeted affiliate marketing operations that channeled victims to the fraud scheme. These operations were suspected of impersonating well-known media outlets, celebrities, or politicians and frequently used deepfake videos. Authorities in Belgium, Bulgaria, Germany, and Israel conducted searches of companies and individuals suspected of involvement in the online advertising campaign.