Europol and Eurojust Dismantle €600 Million Crypto Fraud Network in Global Sweep
A concerted law enforcement investigation that targeted a cryptocurrency money laundering network that deceived victims of €600 million (~$688 million) resulted in the arrest of nine individuals.
The activity occurred in Cyprus, Spain, and Germany between October 27 and 29, according to a statement issued by Eurojust today. The suspects were detained on suspicion of participating in money laundering from fraudulent activities.
Authorities searched the people's houses and seized €800,000 ($918,000) in bank accounts, €415,000 ($476,000) in cryptocurrency, and €300,000 ($344,000) in cash.
Agencies from France, Belgium, Cyprus, Germany, and Spain joined Eurojust in this "synchronized" endeavor.
According to Eurojust, the network's members produced dozens of phony bitcoin investmen...