Spanish police, with the support of Europol and law enforcement from Estonia, France, and the USA, dismantled a criminal network involved in cryptocurrency fraud. The operation, carried out on June 25, 2025, resulted in the arrest of five suspects who laundered €460 million. The network defrauded over 5,000 victims worldwide, using complex social engineering schemes and a global network of accomplices, including accounts in Hong Kong.
Fraudsters attracted victims through targeted online advertising, promising high returns on cryptocurrency investments with no risks. Funds were transferred to accounts in Spain, Portugal, Poland, and France, and then laundered through foreign organizations. The investigation was initiated following complaints from victims, and an analysis of blockchain transactions revealed the scale of the fraud.
Operation codenamed 'Coinblack - Wendimine' marked an important step in the fight against cybercrime. Spanish authorities continue the investigation to identify all those involved and prevent similar schemes in the future. This operation highlights the importance of international cooperation in combating cryptocurrency crimes.
Subscribe to #MiningUpdates to stay updated on news about cryptocurrencies and cybersecurity!