European law enforcement, led by Europol, has carried out a major strike against a large-scale international fraud network that scammed over 5,000 victims out of hundreds of millions of dollars through fake investment offers. The operation was coordinated across Spain, France, Estonia, and the United States.

🎯 Personalized Scams Targeted Thousands Worldwide

The criminal group focused on unsuspecting investors through phone calls, emails, and fake online platforms. Fraudsters promised high returns from cryptocurrency investments, using fake statistics, dummy accounts, and persuasive marketing that often didn’t even mention crypto – creating a false sense of safety.

The tactic proved alarmingly effective – victims were defrauded of a combined $540 million.

👮‍♂️ Arrests in the Canary Islands and Madrid

Spain’s Guardia Civil, with the support of Europol, made several arrests at the end of June, including operations in Madrid and the Canary Islands. A total of five key members of the fraud ring were apprehended. The investigation had been ongoing since 2023. Europol deployed a specialized crypto expert on-site to assist with tracking digital transactions and laundering activities.

The fraudsters used a complex network of accounts – including some based in Hong Kong – and employed crypto exchanges, bank transfers, and cash withdrawals to launder the stolen funds.

🧠 Scams Driven by AI and Deep Psychological Manipulation

This was no amateur operation. Investigations revealed that the group used targeted research, psychological manipulation, and AI tools – including deepfakes and automated communication. The offers appeared legitimate, with victims often seeing fake account growth. When trying to withdraw their money, they were either ignored or asked to make additional deposits.

⚠️ Fake Investments Went Beyond Crypto

While the fraud was closely tied to cryptocurrencies, not all offers explicitly mentioned them. Victims were also lured by promises of investment opportunities in renewable energy or other financial services. The aim was always the same – extract money from inexperienced investors, often retirees or small entrepreneurs.

Europol continues to warn the public about enticing investment opportunities promising "guaranteed returns" – they are almost always scams. Even small investments can result in major losses if you trust unverified sources.



#Cryptoscam , #CryptoFraud , #cybercrime , #CryptoSecurity , #CryptoNews


Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!

Notice:

,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“