Europol-led Raids Dismantle €700M Crypto Fraud Network
European authorities say they have dismantled a large, coordinated crypto fraud network responsible for roughly €700 million in illicit flows. Europol described the operation as breaking a continent-spanning “crypto spiral” after simultaneous raids in multiple countries, marking a major disruption to groups that exploited digital-asset rails and sophisticated scam infrastructures.
The case underscores growing cross-border cooperation and the emphasis on tracing and recovering crypto-linked proceeds. Authorities signaled the next phase will prioritize asset freezes, investigations and eventual prosecutions, while the takedown is likely to increase scrutiny on exchanges and compliance systems. For users and platforms, the raids highlight that large-scale abuse of crypto is a law-enforcement priority and that improved surveillance and AML measures are likely to follow.