European Authorities Dismantle Cryptocurrency Scam Network Defrauding Over EUR 600 Million
November 4, 2025 – In a major coordinated operation spearheaded by the European Union’s judicial cooperation agency Eurojust, along with Europol and national law enforcement agencies, a sophisticated cryptocurrency fraud network that scammed victims out of more than EUR 600 million has been dismantled.
The investigation targeted a criminal group responsible for setting up multiple fake cryptocurrency investment platforms. These platforms attracted thousands of victims across Europe and beyond, promising high returns but ultimately defrauding investors of substantial sums.
According to Eurojust, the suspects organized an elaborate money laundering scheme to conceal the origins of illicit funds obtained through the fraudulent platforms. Authorities coordinated simultaneous raids and arrests during a joint action day, successfully detaining multiple suspects linked to the scam, including the suspected ringleaders.
Eurojust acted as the central coordinating hub for this cross-border judicial operation, facilitating information exchange and legal cooperation between different countries’ law enforcement and judicial bodies. Europol provided operational support and intelligence analysis that proved crucial in uncovering the complex financial flows underpinning the scam.
Scope and Impact
The criminal network’s activities spanned numerous European countries, defrauding victims who invested in fake cryptocurrencies or ponzi-like schemes hosted on fraudulent platforms. This operation marks one of the largest cryptocurrency scam busts in Europe in recent years, highlighting the growing threat posed by crypto-related cybercrime and the increasing effectiveness of international cooperation in combating it.
In addition to arrests, investigators have secured evidence leading to the potential recovery of a significant portion of the defrauded funds. Asset seizures, including digital wallets and bank accounts linked to the suspects, are underway as part of ongoing judicial proceedings.
Context of Rising Crypto Fraud
This crackdown aligns with broader initiatives by European authorities to tackle the surge in cryptocurrency investment fraud. Recent years have witnessed an alarming rise in scams exploiting the growing interest in digital assets, with criminals often leveraging sophisticated online infrastructure and cross-border networks to evade detection.
Data from the U.S. Federal Trade Commission and other international bodies has highlighted that in 2024 alone, billions of dollars were lost globally to crypto scams, underscoring the urgent need for robust enforcement measures.
Eurojust’s Ongoing Role
Eurojust’s involvement in this operation exemplifies its pivotal role in facilitating judicial cooperation in complex transnational criminal cases, particularly those involving emerging challenges such as cryptocurrency fraud.
Eurojust maintains various projects and initiatives aimed at strengthening coordination against organized crime and financial fraud, including the EMPACT platform and cross-border electronic evidence cooperation measures.
This successful operation not only disrupts a major criminal enterprise but also sends a clear message about the determination of European authorities to pursue cryptocurrency scammers vigorously, protect investors, and uphold financial integrity.
For further details, ongoing updates, and official statements, the public is encouraged to follow Eurojust and Europol communications.