A major European crypto fraud network has been dismantled, impacting over 100 victims and resulting in the theft of at least €100 million. The scam, which had been active since 2018, spanned 23 European countries and utilized fake investment platforms to deceive victims. Funds were laundered through Lithuanian accounts.
The operation was brought down through a coordinated effort involving Spain, Portugal, Italy, Bulgaria, and Romania, leading to the arrest of five suspects and the freezing of multiple accounts. Eurojust and Europol coordinated the operation, underscoring the cross-border nature of the fraud and the regulatory challenges in the crypto industry.
European Crypto Fraud Network Dismantled, €100M Stolen
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