Authorities have successfully broken up a major international cryptocurrency fraud. The operation covered more than six countries and targeted a network that tricked thousands of victims out of over seven hundred million euros.


Investigators first noticed suspicious activity on a single crypto platform. The investigation soon revealed a large criminal enterprise running multiple fake investment sites. These sites used fake ads showing celebrities and politicians endorsing the projects. Some ads even used deepfake videos to make them look real. Call centres pressured victims to invest using social engineering. They showed fake trading dashboards with invented profits to make people deposit more money. Once the funds were sent the criminals laundered them through a complicated web of blockchains and exchanges to hide their origins. Experts estimate the group laundered more than seven hundred million euros this way.


The first major raids happened on October 27, 2025. French and Belgian authorities coordinated actions across Cyprus Germany and Spain. Nine people linked to the laundering operations were arrested. Investigators seized eight hundred thousand euros in bank accounts four hundred fifteen thousand euros in crypto three hundred thousand euros in cash and various digital devices and luxury watches. Law enforcement teams from France Belgium Germany Spain Malta Cyprus and other countries worked together. Europol and Eurojust provided key support and helped coordinate the operation.


The second phase focused on the core marketing networks that drove the scam. Authorities in Belgium Bulgaria Germany and Israel targeted companies and individuals running social media campaigns to gather victim data. By shutting down these networks the authorities cut off new victims from entering the scheme. Europol also provided specialists including cryptocurrency experts to trace and seize illicit funds. Investigators said they will continue following the remaining assets across all affected countries.


This operation is one of the largest coordinated actions against online financial crime in recent years. It comes as crypto fraud and theft continue to rise globally. In the first half of 2025 alone hacks and scams caused more than two point four billion dollars in investor losses. Criminals are using more AI driven deepfakes and rug pull schemes which make fraud more damaging and harder to detect.


Recent cases such as the London sentencing of Qian Zhimin show that authorities can act successfully against large scale laundering. However the rise in sophisticated scams shows the ongoing challenge for law enforcement worldwide.


In conclusion the takedown of this seven hundred million euro scam demonstrates that coordinated international action can dismantle major criminal networks. The investigation also highlights how complex these schemes have become using call centres fake ads and global data harvesting to target victims. Authorities remain vigilant to prevent further losses and track down remaining assets from the operation.

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