EU Authorities Arrest Nine in €600M Crypto Scam Network, Seize Limited Funds

• Nine arrests made in Cyprus, Spain, and Germany as part of Eurojust’s synchronized operation against a major crypto scam network.

• The network laundered €600 million through fraudulent investment platforms and multiple blockchains.

• Seizures included €800,000 in bank accounts, €415,000 in cryptocurrency, and €300,000 in cash, though only a fraction of total funds recovered.

EU authorities dismantle €600M crypto money laundering network with nine arrests in Cyprus, Spain, Germany. Learn how scammers operated and what it means for crypto security—stay vigilant against investment fraud.

What is the EU Crypto Money Laundering Network Bust?

The EU crypto money laundering network bust refers to a major law enforcement operation coordinated by Eurojust that resulted in the arrest of nine suspects across Cyprus, Spain, and Germany on October 27 and 29, 2025. This action targeted a criminal syndicate that defrauded victims of €600 million ($689 million) through fake cryptocurrency investment schemes. The operation, involving France and Belgium, underscores the growing sophistication of crypto-related crimes in Europe.

How Did the Crypto Scammers Operate Across EU States?

The suspects established dozens of fraudulent crypto investment websites and platforms to deceive victims. They used social media, cold calls, fabricated news articles, and influencer ads to lure people with promises of high returns. Once victims transferred cryptocurrency, the network laundered the funds across various blockchain platforms, converting assets quickly to evade detection.

According to Eurojust reports, the scheme relied on social engineering tactics, building false trust to encourage larger investments. Supporting data from Chainalysis indicates that crypto scams caused $12.4 billion in losses globally in 2024, a trend that continued into 2025. Europol’s Burkhard Mühl, head of the European Financial and Economic Crime Centre, noted that crypto criminals are employing “increasingly sophisticated” methods, making these networks harder to dismantle.

Expert analysis from TRM Labs, a blockchain intelligence firm, reveals that such operations often involve converting stolen crypto to stablecoins and routing them through over-the-counter brokers and unlicensed exchanges. Ari Redbord, TRM Labs’ VP of Global Policy and Government Affairs, stated, “Fraudulent investment schemes are one of the largest and fastest-growing sources of illicit funds in the crypto sector.” TRM Labs data shows over $53 billion in scams tracked since 2023, with estimates suggesting only 15-20% of victims report losses, implying the true scale is much larger.

Frequently Asked Questions

What triggered the investigation into this crypto money laundering network?

The probe began with victim complaints reported to EU authorities, leading Eurojust to form a joint investigation team with French and Belgian police. It expanded to include Germany, Spain, and Cyprus, culminating in coordinated arrests. This fact-based response highlights how public reports drive international cooperation against crypto fraud, recovering €1.5 million in assets so far.

How can individuals protect themselves from EU-based crypto investment scams?

To avoid falling victim to crypto investment scams in the EU, always verify platforms independently and be skeptical of unsolicited offers promising guaranteed high returns. Consult licensed financial advisors and use reputable exchanges. As Ari Redbord from TRM Labs advises, no legitimate opportunity guarantees profits—report suspicious activity to local authorities immediately for better protection.

Key Takeaways

• Coordinated EU Action: Eurojust’s operation across five countries arrested nine suspects, seizing €1.5 million, but much of the €600 million remains unrecovered.
• Sophisticated Tactics: Scammers used fake websites, social media lures, and blockchain laundering, contributing to $12.4 billion in global crypto fraud losses in 2024 per Chainalysis data.
• Prevention Insights: Exercise caution with unsolicited investment advice; verify sources and avoid transferring funds to unknown wallets to safeguard against rising crypto scams.

Conclusion

The EU crypto money laundering network bust marks a significant step in combating sophisticated fraud schemes that have defrauded victims of €600 million through deceptive investment platforms. With authorities seizing only a fraction of the funds and experts like those at TRM Labs warning of underreported losses exceeding $53 billion since 2023, enhanced vigilance and international cooperation are essential. As crypto adoption grows, staying informed and skeptical will protect investors—consider reviewing your security practices today to navigate this evolving landscape safely.

🚨 Nine arrests following synchronised operation against crypto scammers.
🪙 The suspects had set-up a cryptocurrency money laundering network that scammed victims out of over EUR 600 million.
Full story 👉 pic.twitter.com/816r5ETLom
— Eurojust (@Eurojust) November 4, 2025