Europol Busts $540 Million Crypto Fraud Network That Scammed 5,000 Victims Globally
2025-06-30 22:16:26
Main Idea
Spanish authorities, with international support, dismantled a cryptocurrency fraud network that laundered €460 million stolen from over 5,000 victims worldwide.
Key Points
1. The operation involved Europol and law enforcement from Estonia, France, and the United States.
2. The criminal network used a complex banking and corporate infrastructure based in Hong Kong and false identities on cryptocurrency exchanges.
3. Europol highlighted that online fraud is a widespread issue affecting EU citizens, businesses, and public institutions.
4. The network utilized Bitcoin, Monero, and stablecoins like USDT on Tron for laundering and underground banking.
5. The fraud involved over 5,000 victims globally, with stolen funds amounting to €460 million (nearly $540 million).
Description
Spanish authorities, supported by Europol and law enforcement from Estonia, France, and the United States, have dismantled a major cryptocurrency investment fraud network responsible for laundering €460 million, worth almost $540 million, stolen from over 5,000 victims across the world. On June 25th, the Guardia Civil arrested five individuals, three on the Canary Islands and two in Madrid, and conducted five targeted searches across these locations. The Crackdown Europol joined the investigatio...
Latest News
- XRP, ADA, DOGE: Here’s How They Can Surge by Double Digits2025-07-04 11:45:19
- US Lawmakers Plan ‘Crypto Week’ for July 14 to Tackle Major Bills2025-07-04 11:30:35
- Crypto Price Analysis July-04: ETH, XRP, ADA, SOL, and HYPE2025-07-04 11:12:15
- Ripple (XRP) Price Predictions, Recent Binance Changes, and More: Bits Recap July 4th2025-07-04 10:10:33
- Here’s Why Bitcoin’s Price Doesn’t go up Despite Massive ETF and Corporate Buys2025-07-04 08:57:33