according to the materials of the site - By ETHNews

European authorities have dismantled one of the largest networks in the region involved in cryptocurrency fraud and money laundering as a result of a series of coordinated raids conducted in several countries.

With the support of Europol and Eurojust, the investigation uncovered a large-scale criminal operation in which over 700 million euros (815 million US dollars) was funneled through fake investment platforms, deepfake advertising, and aggressive call center schemes.

The crackdown occurred in two main stages.

The first phase, conducted on October 27, 2025, involved synchronized police actions in Cyprus, Germany, and Spain targeting key members of the organization and their operational centers.
The second phase, carried out on November 25-26, focused on the complex marketing and advertising infrastructure of the network; raids took place in Belgium, Bulgaria, Germany, and Israel. Authorities identified this second level as critically important for attracting new victims and concealing the scale of the operation.
As a result of the multinational operation, nine individuals suspected of laundering hundreds of millions of dollars obtained illegally in cryptocurrency were arrested.

Authorities claim that the group used an interconnected system of fraudulent investment platforms that mimicked legitimate cryptocurrency trading websites. Victims were lured in by carefully crafted online advertisements, often featuring fake videos of celebrities and financial experts, creating an appearance of credibility for the fraudulent schemes.

After users transferred their cryptocurrency to fake platforms, call center operators exerted increasing pressure, urging victims to invest larger sums with promises of guaranteed profits. In reality, the money was not invested. Instead, funds were moved through a complex network of blockchain transactions designed to obscure their origin.

These assets are part of ongoing efforts to track and recover stolen funds that were laundered across multiple platforms and converted through a network of shell companies.

Bulgarian authorities, particularly the General Directorate for Combating Organized Crime (GDCOC) and its Cybercrime Unit, played a key role in the second phase of the operation. Their work focused on dismantling the advertising infrastructure that allowed fraudulent platforms to reach thousands of victims across Europe.

Europol emphasized that the investigation is ongoing: analysts are tracking a broader financial trail of the organization and identifying additional assets in the countries where it operated.


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