EU authorities dismantle €600M crypto fraud network #
European law enforcement agencies have taken decisive action against a large-scale cryptocurrency scam network that defrauded investors of more than €600 million, according to Eurojust. The coordinated operation, led by authorities in Germany, Austria, Cyprus, and the Czech Republic, resulted in multiple arrests, asset seizures, and the shutdown of digital infrastructure linked to the fraudulent scheme
The criminal network allegedly operated call centres and online platforms that lured victims with fake investment opportunities in cryptocurrencies, shares, and commodities. Investigators found that the group laundered proceeds through a complex web of crypto wallets and offshore accounts, using digital assets to obscure the origin of the funds
Eurojust said the operation demonstrates the effectiveness of cross-border judicial cooperation in tackling financial cybercrime and digital fraud. The agency coordinated the exchange of intelligence and evidence among national authorities, enabling the identification of key suspects and the freezing of assets across multiple jurisdictions.