International Crypto Fraud Ring Busted

[madtrader]

A sophisticated cryptocurrency scam that defrauded investors of more than EUR 600 million has been shut down, with nine arrests across three countries.

The criminals created fake investment platforms and lured victims via social media ads, cold calls, and fabricated celebrity endorsements. Authorities in France, Belgium, Cyprus, Germany, and Spain conducted synchronized raids on 27 and 29 October, coordinated through Eurojust.

The operation recovered significant funds and highlighted the growing threat of cross-border crypto fraud in Europe.

[Nahid Hossen]

Good to see big fraud operations getting shut down.

[Rimon Khan]

Scammers forget—blockchain might be anonymous, but not untraceable.