Overview
- Europol announced the takedown after coordinated actions supported by Eurojust and national forces across Europe and Israel.
- The first raids on Oct. 27 in Cyprus, Germany and Spain resulted in nine arrests and seizures including €800,000 in bank funds, €415,000 in crypto, €300,000 in cash, devices and luxury watches.
- A second phase on Nov. 25–26 targeted the affiliate marketing backbone in Belgium, Bulgaria, Germany and Israel that produced fake endorsements and harvested victim data.
- Investigators report more than €700 million was moved through multiple blockchains, exchanges, wallets and shell companies to obscure the flow of funds.
- Authorities say asset tracing and digital forensic work are ongoing to identify additional suspects and recover proceeds.