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Europol Dismantles Latvian Crypto Phishing Ring Behind 49 Million Fake Accounts
Europol Dismantles Latvian Crypto Phishing Ring Behind 49 Million Fake Accounts
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BTCCSquare news:
Europol, in coordination with Latvian authorities, has dismantled a sophisticated crypto phishing operation based in Latvia. The criminal network managed 49 million fake accounts using 1,200 SIM box devices and five servers, controlling over 40,000 active SIM cards. At least $5.7 million was stolen from victims in Austria and Latvia, with ties to 3,200 cyber fraud cases—many targeting Russian-speaking individuals.
Authorities seized $330,000 in cryptocurrency, luxury vehicles, and technical hardware during the operation. The scale of the fraud suggests broader unreported losses, particularly in non-Europol jurisdictions like Russia. Investigations remain ongoing as international efforts intensify to combat digital asset-related scams.
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