Europol Dismantles Latvian Crypto Phishing Ring, Seizes $330K in Digital Assets
Europol and Latvian authorities have disrupted a large-scale crypto phishing operation, confiscating $330,000 in cryptocurrency and dismantling critical infrastructure. The criminal network operated 49 million fake accounts and was linked to over 3,200 fraud cases across Europe.
Phishing scams have seen alarming growth, with August losses doubling April's figures to reach $12 million. This particular ring specialized in targeting Russian-speaking victims, potentially concealing greater losses due to Russia's non-cooperation with Europol.
Law enforcement seized 1,200 SIM box devices and 40,000 active cards - tools enabling mass SMS phishing campaigns. While the recovered assets represent only a fraction of the estimated $5.7 million stolen, the takedown demonstrates growing international coordination against crypto crime.
