US EditionCryptocurrency Fraud Ring Busted in Spain After Laundering US$540 Million, Europol Says
- On June 25, Spanish authorities arrested five individuals suspected of operating a crypto fraud ring that laundered $540 million, with three taken into custody in the Canary Islands and two in the capital.
- Authorities initiated the operation at the beginning of June to break up groups engaged in internet fraud and unauthorized money transfers.
- Europol coordinated the investigation with support from police in Estonia, France, and the U.S., revealing the network used global associates and multiple payment methods.
- Europol described the schemes as unprecedented in scale and noted funds moved through payment gateways, user accounts, and banking networks based in Hong Kong.
- The investigation continues as authorities work to trace and recover criminal funds, signaling ongoing efforts against sophisticated international crypto frauds.
37 Articles
37 Articles
Twelve illegal call centres face closure
The National Cyber Crime Investigation Agency (NCCIA) has intensified its efforts against cyber fraud and digital money laundering through a targeted campaign titled Operation Grey. Over the course of a month-long crackdown, the agency has shut down 12 illegal call centres and arrested more than 90 individuals, including foreign nationals. According to officials, these illicit operations were using call centres as a front to carry out internatio…
Since 17 November 2024, four men from Salzburg's Flachgau and neighbouring Upper Austria have transferred amounts in the six-digit euro area to an acquaintance. He was supposed to increase the money on crypto platforms. 27-year-old Straßwalchner pretended to be active in the trading scene. The four men aged 24 to 27 trusted that he could increase their money. Until now, no payment has been made, no trace of the suspect is missing. That is why th…
The institution led by Laura Codruzia Kovesi, the European Park (EPPO), has reached the Bucharest Tribunal with a criminal file, accusing three persons - including one of the alleged leaders - of a fraud of EUR 100 million involving European and national funds.
Cryptocurrency fraud ring busted in Spain after laundering US$540 million, Europol says
A cryptocurrency investment fraud ring that investigators said laundered 460 million euros (US$540 million) using a worldwide network of accomplices has been dismantled in Spain, European police body Europol said on Monday.
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