Ritratt: The Malta Police ForceA major Europol-led operation, supported by the Malta Police Force, has broken up an international network behind large-scale cryptocurrency investment fraud and money-laundering schemes worth more than €700 million.
The action concludes years of cross-border investigations targeting a criminal ring operating across Europe and beyond.
Authorities say the network ran several fake cryptocurrency investment platforms, drawing in thousands of victims through highly targeted advertising that promised unusually high returns.
Once individuals had signed up, fraudsters repeatedly phoned them, using pressure tactics to secure further payments while displaying fabricated profits through counterfeit trading dashboards.
Four Maltese victims lose nearly €500,000
Malta’s involvement, through its Blockchain Analysis Unit, helped identify four domestic cases linked to the wider scheme.
The Maltese victims collectively lost €493,750 after being manipulated by individuals posing as financial advisers. Victims were directed to provide personal documents and login credentials, allowing the gang to transfer funds through traditional banks, credit cards and cryptocurrency channels.
Arrests across Europe
In October, police raids took place in Cyprus, Germany and Spain at the request of French and Belgian authorities. The coordinated actions led to the arrests of nine suspects accused of laundering illicit proceeds generated by the fake investment platforms.
The operation brought together law-enforcement bodies from Malta, Belgium, Bulgaria, Cyprus, France, Germany, Israel and Spain.
Europol has issued a detailed statement on the investigation and its outcome.
