European Authorities Dismantle Major Cryptocurrency Investment Scam Defrauding Thousands Worldwide
In a major international law enforcement operation, European police agencies have dismantled an extensive cryptocurrency investment scam that defrauded over 5,000 investors globally of more than €540 million. The crackdown targeted an organised crime group responsible for operating a fake online investment platform promising lucrative returns on crypto assets but instead swindling victims across multiple countries.
The European Multidisciplinary Platform Against Criminal Threats (EMPACT), facilitated by Europol, led the coordinated investigative effort involving national authorities and partner countries. The scam used sophisticated methods including fake trading interfaces, aggressive sales agents, and communication channels like phone, email, and social media to lure potential investors into fraudulent schemes.
According to Europol, the criminal network was responsible for defrauding more than 100 victims of over €3 million through a single fake investment platform, highlighting the scale and audacity of these operations.[2] The broader crypto fraud network, implicated in scams across multiple European countries and beyond, amassed illicit profits estimated at around €540 million ($540 million), making this one of the largest cryptocurrency scams ever uncovered.[4]
The European Union Serious and Organised Crime Threat Assessment (EU-SOCTA 2025) underlines that cryptocurrencies remain the most significant product used in investment fraud within the EU. This type of fraud exploits not only individuals but occasionally companies, leveraging emerging technologies and digital platforms.[1] Criminal syndicates increasingly adapt to technological advancements and geopolitical vulnerabilities to expand their illicit activities and money laundering operations.
Europol’s efforts to identify and apprehend those involved included dismantling sales agent networks operating globally, who used high-pressure tactics to recruit victims into fraudulent crypto investments. The operation emphasized close international cooperation, bringing together intelligence, investigative expertise, and cross-border law enforcement capabilities.
The crackdown serves as a stern warning against the rising threat of crypto-related organized crime, which undermines financial security and public trust. Europol officials stressed the importance of continued vigilance, enhanced regulatory frameworks, and joint operational action to tackle such schemes effectively in the digital age.
As the EU intensifies law enforcement actions targeting serious organized crime, combating cryptocurrency fraud remains a critical priority due to the scale of financial harm and the complex transnational nature of these scams.