Overview
- Authorities arrested nine suspects in synchronized actions on October 27–29 across Cyprus, Spain and Germany, coordinated from Eurojust’s headquarters in The Hague.
- Searches recovered €800,000 in bank accounts, €415,000 in cryptocurrencies and €300,000 in cash, with luxury watches worth €100,000 seized and several properties under appraisal.
- Investigators say the network built dozens of bogus crypto investment sites and recruited victims via social media ads, cold calls, fake news and fabricated celebrity testimonials.
- French prosecutors opened a judicial investigation on June 4, 2025, with agencies from France, Belgium, Cyprus, Germany and Spain participating alongside Eurojust and Europol.
- Authorities estimate roughly €600 million was laundered through layered transfers across wallets and exchanges, with several hundreds of victims reported in Europe, including many pensioners.