Spanish Authorities Dismantle Crypto Investment Fraud Ring Which Laundered Over $500 Million in Illicit Proceeds
2025-06-30 09:35:07
Main Idea
Spanish authorities, in collaboration with international law enforcement agencies, dismantled a cryptocurrency investment fraud ring that 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.
Description
Europol has announced that the Spanish Guardia Civil, in collaboration with law enforcement agencies from Estonia, France, and the United States, has dismantled a cryptocurrency investment fraud ring that defrauded over 5,000 victims worldwide. The operation resulted in the arrest of five individuals, with three apprehended in the Canary Islands and two in Madrid. The
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