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Crypto fraud ring dismantled by European authorities

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2 unique sources, 2 articles

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A joint operation by European law enforcement agencies has dismantled a cryptocurrency investment fraud ring that defrauded over 100 victims of €100 million ($118 million). The operation, coordinated by Eurojust and supported by Europol, involved authorities from Spain, Portugal, Bulgaria, Italy, Lithuania, and Romania. The ring operated since at least 2018, targeting investors across 23 countries, including France, Germany, Italy, and Spain. The fraudsters used professionally designed online platforms to promise high returns on cryptocurrency investments. Funds were funneled into bank accounts in Lithuania, and victims were charged additional fees to recover their assets. The fraudulent websites eventually went offline, leaving investors with significant losses. Five suspects were arrested, and bank accounts and financial assets were frozen during the operation. The main perpetrator has been accused of large-scale fraud and money laundering.

Timeline

  1. 23.09.2025 17:16 2 articles · 6d ago

    European authorities dismantle €100 million crypto fraud ring

    The fraud ring targeted victims in France, Germany, Italy, and Spain. The main perpetrator has been accused of large-scale fraud and money laundering. The fraud ring operated an online investment platform for several years. The fraud ring diverted proceeds of the scam through 23 different countries.

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