Overview

• Operation Borrelli led by the Guardia Civil’s Central Operative Unit under court order resulted in five arrests and searches in Getafe, Las Palmas de Gran Canaria and Santa Lucía de Tirajana.
• FX Winning Limited, operating from Hong Kong, used a global sales network to defraud over 5,000 investors in 30 countries of nearly €460 million.
• Illicit proceeds were laundered through a web of corporate entities, payment gateways and major crypto exchanges including Binance and Coinbase.
• Spanish victims alone lost about €39 million, spurring the Asociación de Usuarios de Criptomonedas complaint that launched the probe.
• Authorities have seized substantial cryptocurrency holdings and warn the probe remains open with possible further detentions and cross-border actions supported by Europol and Homeland Security Investigations.