Overview
- Europol announced the takedown on Dec. 4 after a two‑phase operation coordinated with Eurojust and multiple national agencies.
- Raids on Oct. 27 in Cyprus, Germany and Spain led to nine arrests and seizures including €800,000 from bank accounts, €415,000 in crypto, €300,000 in cash, luxury watches and digital devices.
- Follow‑up actions on Nov. 25–26 targeted the recruitment machine in Belgium, Bulgaria, Germany and Israel that produced fake endorsements and deepfake videos funneling victims to the scam sites.
- Investigators say the group ran numerous bogus trading platforms backed by call centers and social‑engineering tactics that drew in thousands of victims and laundered over €700 million through exchanges and blockchains.
- Authorities report that tracing and recovery of dispersed assets remains active across jurisdictions, following a broader European push that recently included closing a major crypto‑mixing service.