Crypto Con Job Crumbles: International Police Bust $700M Fraud Network
Europol’s epic takedown of a colossal cryptocurrency fraud network was like catching a digital hydra with a bad haircut. This years-long sting revealed a cunning operation that laundered over EUR 700 million, duping victims with fake crypto investments and deepfake videos. The operation unfolded like an action movie with two major phases and multiple country raids!
Hot Take:
**_Looks like the scammers finally got schooled in the art of “you can run but you can’t hide” by the international police force. Now, if only my grandma could be convinced that her $5,000 investment in “CryptoKittyCoin” wasn’t such a hot idea._**
Key Points:
– Massive international police operation dismantles a €700 million cryptocurrency fraud and money laundering network.
– The scheme used fake investment sites, aggressive marketing, and deepfake videos to trick victims.
– Coordinated raids across several countries led to arrests and significant seizures.
– Two major phases of operation targeted both the criminal organization and its support systems.
– Europol and Eurojust played crucial roles with support from EMPACT.