Crypto Scam Network Exposed in Spain with Over 5,000 Victims
2025-07-04 05:39:24
Main Idea
Europol announced the dismantling of an international crypto fraud network that scammed over 5,000 victims and laundered over €460 million, highlighting the growing threat of crypto scams and the importance of global law enforcement collaboration.
Key Points
1. Spanish Guardia Civil, with support from U.S., Estonia, and France, dismantled a crypto fraud network operating via a Hong Kong-based front company.
2. The criminal gang laundered over €460 million (nearly $500 million), making it one of the largest crypto fraud cases.
3. Europol's investigation revealed the gang used a corporate and banking network in Hong Kong to receive, store, and transfer criminal funds.
4. The operation was a result of a year-long investigation launched in 2023, involving multiple international law enforcement agencies.
5. Europol warned about the increasing scale, variety, and sophistication of online fraud schemes, particularly crypto scams, as a major threat to EU security.
Description
The post Crypto Scam Network Exposed in Spain with Over 5,000 Victims appeared first on Coinpedia Fintech News On June 25, Europol announced a major breakthrough as Spanish Guardia Civil, with support from law enforcement in the U.S., Estonia, and France, dismantled an international crypto fraud network that scammed over 5,000 victims across Europe and beyond. The Fraud Operation The criminal gang operated via a Hong Kong-based front company that posed as a legitimate Forex and crypto investment...
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