Spanish Police Arrest 5 in Suspected $540M Crypto Fraud Operation
2025-06-30 12:22:26
Main Idea
Spanish police arrested five individuals in a suspected $540 million crypto fraud operation, with the investigation still ongoing.
Key Points
1. Spanish police arrested five people in connection with a crypto fraud operation allegedly laundering 460 million euros ($540 million).
2. The arrests were made by Guarda Civil, the armed wing of Spain's law enforcement, in Tenerife and Madrid on June 25.
3. The investigation is still in progress, according to Europol.
Description
Spanish police arrested five members of a suspected crypto fraud operation that allegedly laundered 460 million euros ($540 million) stolen from over 5,000 victims. The bust, carried out by Guarda Civil, the armed wing of the country's law enforcement agencies, saw three arrests from searches in the Canary Islands and two in Madrid on June 25. The investigation was supported Europol, as well as police forces from Estonia, France and the U.S. The criminal network raised funds through cash withdra...
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