Europol has completed a multi-year operation that dismantled an international cryptocurrency fraud network responsible for laundering more than €700 million. The investigation spanned Germany, Spain, Cyprus, Belgium, France, Malta, Israel, and several other countries, exposing a sophisticated operation built around fake crypto-investment platforms.
Authorities indicated that the case began with a single fraudulent website but quickly revealed a sprawling ecosystem. Victims were enticed through misleading online ads promising high returns. After an initial deposit, they were shown fabricated profits on counterfeit trading dashboards and pressured to reinvest. The criminals then siphoned the funds and laundered them through multiple blockchains and crypto exchanges.
Phases of Raids Targeted Core Suspects and Marketing Networks
The first major operation took place on October 27, 2025, when coordinated raids were carried out in Cyprus, Germany, and Spain at the request of French and Belgian authorities. Nine suspects were arrested, and investigators seized:
- •€800,000 in bank accounts
- •€415,000 in cryptocurrency
- •€300,000 in cash
- •High-end watches, electronics, and documents
The second phase, conducted on November 25–26, focused on affiliated marketing firms operating across Germany, Belgium, Bulgaria, and Israel. These companies were found distributing the scam’s advertisements on social media, often relying on deepfakes, fabricated media clips, and fake celebrity endorsements.
Europol described the case as one of the largest of its kind in Europe:
“The investigation revealed that more than €700 million was laundered through a complex network of cryptocurrency exchanges, using digital anonymity to conceal illicit flows of funds.”
This operation follows earlier efforts in which Europol and partner agencies shut down the crypto-mixing service Cryptomixer, part of a broader push to disrupt large-scale financial crime in the digital asset sector.