Authorities revealed that what started as a probe into a single phony investment website eventually exposed an industrial-scale scheme built on deception, data manipulation and rapid cross-border money movement.
Investigators discovered that criminals constructed an entire ecosystem: false trading portals, call centers masquerading as advisory desks, and laundering routes that zigzagged across exchanges and jurisdictions to erase any trace of the stolen money.
A Multi-Country Operation Hits the Financial Heart of the Network
The first coordinated raids took place in late October.
Police teams in Spain, Cyprus and Germany executed warrants targeting alleged money handlers tied to the fraudulent platform network. Officers confiscated cash in multiple currencies, seized cryptocurrencies, froze bank accounts and removed high-end personal assets believed to be purchased with illicit profits. Nine people were taken into custody during this initial wave.
European agencies including Europol and Eurojust played support roles, feeding intelligence and securing cooperation between forces in France, Belgium, Malta and Cyprus. Officials say the value of funds passing through the network exceeded €700 million — an amount they believe represents only a slice of the overall losses inflicted on victims worldwide.
The Marketing Machine Behind the Fraud Was Equally Sophisticated
A follow-up action late in November shifted focus toward the operation that harvested new victims.
Officers carried out searches in Belgium, Israel, Bulgaria and Germany targeting firms suspected of generating fake media endorsements, celebrity impersonations and deepfake promotional videos to funnel targets to the fraudulent platforms.
These advertising networks served as the entry point for thousands of victims, lured into believing they were joining reputable investment schemes. Investigators described them as integral to the criminal business model rather than mere accessories.
Europol said the two enforcement waves struck the financial processing arm and the recruitment architecture that fed it — effectively attacking the infrastructure that allowed the scam to flourish.
Officials noted that asset tracing is ongoing, as criminals dispersed funds through a complex web of wallets, companies and bank accounts across multiple countries.