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Multinational law enforcement operation dismantles cryptocurrency investment fraud ring linked to €50 million losses

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Austria and Albania, with support from Europol and Eurojust, dismantled a large-scale cryptocurrency investment fraud ring that allegedly defrauded victims worldwide of over €50 million. The operation, initiated in June 2023, culminated in the arrest of 10 suspects and coordinated searches on April 17, 2024, across three call centers and nine private residences. Seizures included €891,735 in cash, 443 computers, 238 mobile phones, 6 laptops, and multiple data storage devices. Victims were primarily targeted through fraudulent cryptocurrency investment platforms advertised on search engines and social media, with funds siphoned into international money-laundering schemes.

Timeline

  1. 29.04.2026 17:27 1 articles · 1h ago

    April 2024 operation dismantles Tirana-based cryptocurrency investment fraud ring causing €50 million losses

    Austria and Albania, supported by Europol and Eurojust, executed coordinated raids on April 17, 2024, arresting 10 suspects and seizing assets linked to a criminal network operating call centers in Tirana that defrauded victims worldwide through fake cryptocurrency investment platforms. The ring employed a corporate-like structure with language-specific call center teams, used remote access software to control victim devices, and siphoned funds into international money-laundering schemes. A secondary scheme defrauded victims again by offering fraudulent fund recovery services.

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Information Snippets

  • The fraud ring operated call centers in Tirana, Albania, employing up to 450 people in a hierarchical structure with clear divisions of roles including customer acquisition, retention, finance, IT, and HR.

    First reported: 29.04.2026 17:27
    1 source, 1 article
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  • Call center operators worked in teams of six to eight, organized by language (German, English, Italian, Greek, Spanish), and received monthly salaries of approximately €800 plus performance-based commissions.

    First reported: 29.04.2026 17:27
    1 source, 1 article
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  • Victims were lured to fake cryptocurrency investment platforms via ads on search engines and social media and assigned 'retention agents' posing as professional brokers who used remote access software to control victims' devices and pressure them into additional deposits.

    First reported: 29.04.2026 17:27
    1 source, 1 article
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  • The investigation began in Vienna in June 2023 and identified victims across Italy, Germany, Greece, Spain, Canada, and the United Kingdom.

    First reported: 29.04.2026 17:27
    1 source, 1 article
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  • Law enforcement seized €891,735 in cash, 443 computers, 238 mobile phones, 6 laptops, and multiple data storage devices during coordinated raids on April 17, 2024.

    First reported: 29.04.2026 17:27
    1 source, 1 article
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  • A secondary victimization scheme involved criminals offering fraudulent fund recovery services, requiring victims to deposit €500 into cryptocurrency accounts as an entry fee.

    First reported: 29.04.2026 17:27
    1 source, 1 article
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