Spanish Authorities Dismantle Crypto Investment Fraud Ring Which Laundered Over $500 Million in Illicit Proceeds

Key Points

1. The Spanish Guardia Civil worked with agencies from Estonia, France, and the U.S. to take down the fraud ring.

2. The criminal network defrauded over 5,000 victims and laundered approximately $539 million (€460 million).

3. Europol supported the operation since 2023, highlighting the growing threat of online fraud to EU internal security.

4. Suspects were apprehended in the Canary Islands and Madrid.