A large-scale international operation coordinated with the support of Europol and Eurojust has led to the dismantling of a major network involved in cryptocurrency investment fraud and money laundering. The organizers operated fake trading platforms and call centres through which they moved more than 700 million euros in illicit funds.
Fraud scheme
According to investigators, the perpetrators set up numerous fake crypto-investment platforms promising exceptionally high returns. Victims were lured through deceptive ads on social media, often featuring deepfake videos of celebrities and politicians.
Once registered, victims’ information was passed to call centres where operators applied psychological pressure, showcased fabricated profits in user dashboards and pushed for further transfers. As soon as the cryptocurrency reached the network’s accounts, it was siphoned off and laundered through chains of exchanges and blockchains. The total losses are estimated at more than 700 million euros.
Operation overview
The investigation began with a single suspicious platform but quickly expanded into a multinational case.
The first phase took place on 27 October 2025. At the request of French and Belgian authorities, coordinated police raids were carried out in Cyprus, Germany and Spain. Nine individuals responsible for money laundering activities were arrested. Officers seized 800,000 euros in bank accounts, 415,000 euros worth of cryptocurrency, 300,000 euros in cash, dozens of laptops and phones, hard drives and a collection of luxury watches.
The second phase took place on 25–26 November 2025. It targeted the affiliate-marketing infrastructure used to place fraudulent ads and pass potential victims’ details to call centres. Searches were conducted in Belgium, Bulgaria, Germany and Israel.
Following these coordinated actions, authorities continue to trace the criminal network’s remaining assets.
