Authorities across France, Belgium, and Cyprus successfully dismantled a crypto money laundering ring involved in stealing over €600 million through fake investment sites. The operation involved arrests, seizures of cash, crypto, and bank funds, highlighting international cooperation in tackling crypto-related fraud. #Eurojust #CryptoLaundering
Keypoints
- The criminal network operated dozens of fake crypto investment sites promising high returns.
- They used social media ads, cold calls, fake news, and celebrity endorsements to attract victims.
- Victims’ crypto funds were stolen and laundered through blockchain transactions.
- Authorities seized €800K in bank funds, €415K in cryptocurrencies, and €300K in cash.
- The operation took place on October 27 and 29, with arrests in Cyprus, Spain, and Germany.