EU Authorities Dismantle €100M Crypto Fraud Scheme Spanning 23 Countries

Eurojust, the EU's judicial cooperation agency, has coordinated a multinational operation to dismantle a sophisticated cryptocurrency investment scam operating across 23 countries. The scheme, active for several years, allegedly defrauded victims of over €100 million through fake crypto investment platforms.

Spanish and Portuguese authorities led the crackdown, resulting in five arrests including the alleged mastermind. Searches across Spain, Portugal, Italy, Romania, and Bulgaria yielded frozen bank accounts and financial assets. The ringleader faces additional money laundering charges.

The fraudsters lured investors with promises of high returns through professionally designed platforms. While the announcement didn't specify particular cryptocurrencies involved, the scale suggests potential market implications for major digital assets.