Nine arrested in €600M crypto laundering bust across Europe

Nine arrests were made in a coordinated Eurojust-led operation across Europe for laundering €600M in crypto fraud. Authorities in France, Belgium, Cyprus, Germany, and Spain dismantled a ring that ran dozens of fake crypto investment sites, luring victims via social media ads, cold calls, fake news, and celebrity endorsements, and then laundered funds through blockchain transactions. The operation involved arrests in Cyprus, Spain, and Germany, with searches and seizures tied to the case.

In total, investigators seized €800,000 in bank funds, €415,000 in cryptocurrency, and €300,000 in cash. Actions against the suspects took place on 27 and 29 October and were coordinated from the Eurojust premises in The Hague, according to Eurojust. The press release notes the nine suspects are being investigated on suspicion of involvement in money laundering from fraudulent activities.