Europol and Eurojust Dismantle €600 Million Crypto Fraud Network in Global Sweep

Nine people have been arrested in connection with a crypto money laundering network that defrauded victims of €600 million. According to Eurojust, the operation took place between 27 and 29 October across Cyprus, Spain and Germany, with suspects facing money‑laundering charges from fraudulent activities. Searches at homes also led to seizures of €800,000 in bank accounts, €415,000 in cryptocurrencies and €300,000 in cash.

Participating nations in the synchronized effort alongside Eurojust were France, Belgium, Cyprus, Germany and Spain. The members of the network created dozens of fake cryptocurrency investment platforms that resembled legitimate sites and recruited victims through social media advertising, cold calling, fake news articles and fake testimonials from celebrities or successful investors.

Eurojust said the crypto assets were laundered using blockchain, netting about €600 million in illicit revenue, and noted the raids were part of a broader trend of increasingly professionalised crypto crime requiring cross‑border cooperation.