Spain Disrupts €460M Crypto Fraud Ring in International Sting

Spanish authorities dismantled a sophisticated cryptocurrency fraud network allegedly responsible for scamming over 5,000 victims globally. The operation, conducted with Europol and international partners, resulted in five arrests across Madrid and the Canary Islands.

Investigators uncovered a complex laundering scheme utilizing Hong Kong-based corporate structures and multiple cryptocurrency exchanges. The network employed payment gateways and pseudonymous accounts to obscure the trail of €460 million in illicit proceeds.

This crackdown follows a similar multinational investigation weeks earlier, signaling heightened regulatory scrutiny of crypto-related financial crimes. The case highlights both the vulnerabilities in digital asset ecosystems and law enforcement's growing capability to track cross-border crypto flows.