Europol: International takedown of cryptocurrency fraud network laundering over EUR 700 million

The final actions in a sweeping international operation have successfully dismantled a large-scale cryptocurrency fraud and money laundering network that had laundered over EUR 700 million, according to Europol. Coordinated across multiple jurisdictions, these actions, carried out last month and earlier this week, mark the culmination of years of investigation and the effective disruption of a criminal operation that spanned Europe and beyond.

What began as an investigation into a single fraudulent cryptocurrency platform gradually unfolded into a complex, far-reaching operation, revealing a vast network of deceit and money laundering.

The criminal network operated numerous fake cryptocurrency investment platforms, luring thousands of victims with sophisticated advertisements promising high returns. The victims were then repeatedly contacted by criminal call centres, where callers used social engineering to pressure victims into making further payments by showing them inflated returns on fake trading platforms.

Once victims had transferred their cryptocurrency, the funds were stolen and laundered across various blockchains and cryptocurrency exchanges. As investigators peeled back the layers of the operation, it became clear that the network had grown far beyond a single fraud scheme, involving multiple fraudulent platforms and sophisticated financial infrastructure spanning Europe and beyond.

Authorities seized millions of euros in assets, including:

• EUR 800 000 in bank accounts
• EUR 415 000 in cryptocurrencies
• EUR 300 000 in cash
• Digital devices
• High-value watches

The operation was carried out in close collaboration with national authorities from France, Belgium, Germany, Spain, Malta, Cyprus and other countries. Europol and Eurojust supported this first phase of the investigation.

The second phase, targeting another key pillar of the investment fraud ecosystem, took place on 25 and 26 November 2025. It focused on the affiliate marketing infrastructure that supports these online scams. Coordinated actions were taken against the companies and suspects behind fraudulent advertising campaigns on social media platforms. In recent years, deceptive advertisements impersonating renowned media outlets, celebrities and politicians – often using deepfake videos – have posed a significant global challenge. The data of potential investors obtained through manipulated advertising, even on reputable platforms, is crucial to the functioning of the crypto-scam industry as a whole.

During the action days, law enforcement teams in Belgium, Bulgaria, Germany and Israel carried out searches and additional operational measures with Europol’s support. Targets included companies that had previously offered affiliate marketing services.