Eurojust Arrests 5 in €100M Cryptocurrency Investment Fraud Spanning 23 Countries

Eurojust says five suspects have been arrested in connection with an elaborate online investment fraud scheme that stole more than €100 million from over 100 victims across 23 countries, including France, Germany, Italy and Spain. According to Eurojust, the coordinated action involved searches in five locations across Spain and Portugal, as well as in Italy, Romania and Bulgaria, with bank accounts and other financial assets linked to the ring frozen.

The operation is described as having run for several years, with the main perpetrator accused of large‑scale fraud and money laundering by operating an online platform that promised high returns on cryptocurrency investments, before transferring deposits to bank accounts in Lithuania to launder them. The investigation involved judicial and law enforcement agencies from Bulgaria, Italy, Lithuania, Portugal, Romania and Spain. The disclosure notes that the fraud was active since at least 2018 and spanned 23 countries, using various locations to divert proceeds or base victims.