Europol Dismantles Latvian Cybercrime Ring, Seizes $330K in Crypto

Europol, in collaboration with Latvian authorities and European law enforcement, has dismantled a sophisticated cyber-fraud network operating from Latvia. The operation, conducted around October 10, 2025, resulted in the arrest of seven individuals and the seizure of $330,000 in cryptocurrency, alongside $500,000 frozen in linked bank accounts.

The criminal enterprise functioned as a fraud-as-a-service operation, leveraging telecom technology to execute thousands of scams across Europe. Central to their scheme were SIM-box devices—hardware capable of holding dozens of SIM cards—which allowed the group to mask their identities and locations. Investigators uncovered 1,200 SIM boxes and 40,000 active SIM cards, tools used to create over 49 million fake online accounts.

The network's activities were linked to more than 1,700 cyber fraud cases in Austria and 1,500 in Latvia. Europol's takedown included the dismantling of five servers, marking a significant blow to organized cybercrime in the region.